Domino’s Pizza profits dive as people cut back on takeaways in UK

Amid weaker consumer confidence and rising wage costs, fast-food firm says market has become tougher

Domino’s Pizza said the takeaway market had “become tougher” as it blamed weaker consumer confidence in the run-up to the autumn budget and rising wage costs for lower-than-expected sales and a slump in profits.

After a drop of nearly 15% in half-year profits, the company now expected full-year underlying profits of between £130m and £140m, about £6m below analysts’ expectations.