Australia’s largest listed pizza chain Domino’s expects strong growth after a strong start to the financial year.

Same store sales grew by 4.3 per cent in the first three months of the 2013/14 year, keeping Domino’s on track to meet its targets.

“The results for the first quarter of the year have revealed that we are on track to achieve guidance and we remain positive but cautious with eight months of trading ahead,” CEO Don Meij told shareholders.

Domino’s also announced Andrew Rennie will move from being CEO of Domino’s France to head its Europe business, with responsibility for growing the business in France, Belgium and The Netherlands.

After four years as the CEO of Domino’s European operations, Andrew Megson becomes CEO of Australia and New Zealand.
“We are committed to achieving our growth and profit objectives in Europe and we have every intention to do all we can to improve returns and accelerate growth,” Meij said.

Domino’s shares lost 16 cents, or 1.07 per cent, to $14.74.

AAP