Jubilant FoodWorks, the multinational food service company, which operates the Domino's Pizza and Dunkin’ Donuts chain, has reported its Q1 FY13 financial results. It has posted store sales growth of 22.3 per cent for April-June, down from 36.7 per cent in the year-ago quarter.
Jubilant Foodworks' first quarter net profit rose 40 per cent year-on-year to Rs 32.35 crore, helped by strong growth in sales and new store openings. Jubilant during this quarter has opened 24 new Domino's outlets in April-June, taking the total count to 489 stores across 110 cities as of June 30. It also opened three Dunkin' Donuts restaurants in Delhi during the quarter.
"We are on track with expansion plans and are also dedicating our efforts towards menu development and innovation, marketing and customer service initiatives. We will continue to leverage the power of our brands to achieve our goals and remain focused on creating sustainable growth over the long term," said Ajay Kaul, CEO, Jubilant FoodWorks.
The company has scaled up its Domino's Pizza chain expansion plans and now aims to open 100 outlets this financial year, up from 90 it had planned earlier.
It will also open 5-6 Domino's stores in Sri Lanka by March 2013 and has a target to open 25-30 outlets over the next 5 years.