Domino’s sees £3m a year impact from Budget measures

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Domino’s Pizza Group has revealed it is facing a cost hit of about £3 million a year from recent Budget measures as it unveiled a new five-year agreement with franchisees. Having a five-year framework in place provides a strong platform for the long-term, sustainable growth of the brand Andrew Rennie, Domino's chief executive The group said the agreement got “unanimous support” from its franchisee partners and underpins its targets to grow to 1,600 stores delivering £2 billion of systems sales by 2028, and 2,000 stores delivering £2.5 billion of system sales by 2033. Andrew Rennie, chief executive of Domino’s, said: “Having a five-year framework in place provides a strong platform for the long-term, sustainable growth of the brand.” “It also means we will be well-placed to address the headwinds all consumer-facing businesses will inevitably face in 2025 and will ensure we are in a strong position to thrive in the years that follow,” he added. Mark Millar, chairman of the Domino’s Franchise Association, said: “Against a backdrop of significant and unexpected tax increases from the UK Budget, having a five-year framework in place provides some much-needed certainty for our members.” Under the agreement, Domino’s said it will also invest around an extra £4 million to £5 million a year on areas including technology and cyber security, as well as boosting its supply chain capacity.