Domino’s Pizza Enterprises announced it will open more than 300 stores in Australia and New Zealand, after beating its guidance to post a lifted annual profit of $82.4 million.

Don Meij, Domino’s chief executive, said they plan to increase its store count in the ANZ market from 900 to 1,200 “to take advantage of the huge market opportunities”.

“Due to the extraordinary growth being experienced in ANZ, the returns from investment in our program of digital initiatives and the capacity restraints in some areas of the region, we are confident that ANZ has the capacity for 1200 stores, up from our previous guidance of 900 stores,” Meij said.

The pizza giant has posted an annual profit increase of 28.7 per cent to $82.4 million. Net profit for the 12 months to July 3 increased to $64.0 million from the prior corresponding period.

The results come from significant organic growth yielding strong same store sales leveraging digital platforms while adding 484 stores to the Group.

The company achieved double digital same store sales of 10.9 per cent, with Australia and New Zealand recording its second consecutive year of double digit same store sales of 14.8 per cent, while Europe reported strong same store sales of 8.2 per cent.

Domino’s reported an increase in revenue, 30.9 per cent, after strong growth in Europe boosted by the company’s acquisition of 366 rival stores.

Domino’s ANZ posted underlying earnings before interest, tax, depreciation and amortisation growth of 28.0 per cent resulting to the launch of a range of disruptive digital initiatives such as the market-first Project 3/10, 15/20 Minute Service Guarantees, SMS ordering, and On Time Cooking (opt-in geo-location technology).

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