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Domino's Pizza steps up UK expansion plans with 1,600 store target

Domino's said it was continuing to trade well and profit guidance for 2016 was unchanged
Domino's said it was continuing to trade well and profit guidance for 2016 was unchanged

Pizza delivery firm Domino's Pizza has said it plans to increase its presence across the UK to 1,600 stores after seeing a strong performance from new outlets and a positive market outlook. 

The firm, which expects to have 950 UK stores operating by the end of 2016, had previously been targeting 1,200. 

Outside the UK, Domino's has also identified opportunities for a total of 400 stores, excluding its German joint venture, up from around 100 at the end of 2016. 

"Our continued strong e-commerce performance and our collaboration with our dedicated franchisees, enable us to increase our UK presence significantly," the company's chief executive David Wild said. 

"Internationally, our progress in Switzerland and new collaborations in the Nordic region are exciting opportunities for the business," he added. 

Domino's said it was continuing to trade well and profit guidance for 2016 was unchanged. 

Analysts are on average forecasting a pretax profit of £84.3m, up from £73.2m made in 2015. 

Domino's said it remains committed to the return of surplus cash to shareholders through buy-backs, but had paused the process in recent weeks because of a technical issue it is currently resolving.