Britain’s biggest pizza delivery firm Domino’s Pizza plans to increase its presence across the U.K. to 1,600 stores after seeing a strong performance from new outlets and a positive market outlook, it said on Thursday.
The firm, which expects to have 950 U.K. stores operating by the end of 2016, had previously been targeting 1,200.
Outside the U.K., Domino’s has also identified opportunities for a total of 400 stores, excluding its German joint venture, up from around 100 at the end of 2016.
“Our continued strong e-commerce performance and our collaboration with our dedicated franchisees, enable us to increase our UK presence significantly,” said Chief Executive David Wild.
“Internationally, our progress in Switzerland and new collaborations in the Nordic region are exciting opportunities for the business.”
Domino’s (DPUKF), which is hosting a capital markets day on Thursday, said it was continuing to trade well and profit guidance for 2016 was unchanged.
Analysts are on average forecasting a pretax profit of 84.3 million pounds ($104.8 million), up from 73.2 million pounds made in 2015.
The firm said re-phasing of supply chain projects mean that full-year capital expenditure will be around 20 million pounds, less than the 33 million pounds indicated at the half year.
Domino’s said it remains committed to the return of surplus cash to shareholders through buy-backs, but had paused the process in recent weeks because of a technical issue it is currently resolving.
Shares in the firm, down 6% so far this year, were up 1.8% at 335.5 pence at 8:08 a.m. GMT.