StockMarketWire.com - Pizza chain Dominos announced £35 million share buyback programme after reported a rise in first-half profit amid strong sales during the lockdown and driven by its promotional activity during the the Euros group stage.

The company announced an incremental £35m share buyback which it said would be returned to shareholders over the coming months.

Pre-tax profit rose 27.7% to £60.8 million year-on-year as with system sales of £752.3 million, up 19.6%.

'We have managed to work hard to mitigate or remove the Covid-19 related costs and have benefited from a lower VAT rate on hot takeaway food in the first half,' the company said.

The company announced an interim dividend of 3.0p per share.

'The second half has started well with strong total order count growth as we benefitted from our supercharged marketing campaign, and the extended involvement of the English football team in the Euros. Our vertically integrated system has worked effectively to deliver great service to customers as we dealt with unprecedented peaks in demand,' it added.




Story provided by StockMarketWire.com