Domino's Pizza has recorded a decline in its annual pre-tax profits, which dropped 22% to £61.9 million during the year that ended on December 30, 2018, but the company said that its performance in the Republic of Ireland was steady during the period, with the pace picking up in the latter half of the year.
According to The Irish Times, Domino's stated, "We still see ample opportunity to raise store numbers to 75 over time: the Irish economy has recovered strongly and the casual dining market is booming.
"In November 2018, we reached an agreement to invest €12.5 million for a 15% stake in Shorecal Limited, the Domino’s franchise business owned by the Caldwells, the largest Domino’s franchisee in Ireland. This was part of a wider transaction in which we invested alongside a private investor that took a 34% stake. Shorecal will open 10 new stores in Ireland (of which six will be in ROI) over the next four years."
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.