Delivery is the byword for Domino’s, with successful affirmation in 2020 of a proven model in challenging conditions. With collection (21% of 2019 sales) hampered by COVID-19 restrictions, delivery stepped up with 24% top-line growth, driving a 7% rise in full-year like-for-like PBT. This is complemented by a new digital-led strategic plan (medium-term target of 20–40% higher system sales) and a commitment to return surplus cash to shareholders (£88m for 2020). Also, longstanding friction with franchisees, potentially a key obstacle to growth, is being actively addressed by management, itself revamped. Relatively unscathed in a COVID-19-bedevilled hospitality market, Domino’s appears fairly rated in terms of its long-term prospects.
