Domino’s Pizza delivers investors a bigger market slice
The recent annual results of Domino’s Pizza Enterprises Limited have delighted its investors.
At the Annual General Meeting this week the company announced that pre-tax earnings for 2017 are expected to be 30 percent higher than 2016. The original expectation was an increase of 25 per cent.
The company also confirmed that underlying profit would also be 30 per cent better than 2016.
In his address to shareholders, CEO Don Meij advised that the improved growth outlook was due to increasing same-store sales growth and fatter margins.
Domino’s experienced a record improvement in Australian and New Zealand same-store sales during 2016 but already in the first 16 weeks of FY2017, same-store sales growth had risen by 17.66 per cent.
Domino’s expects Australasian same-store sales to increase by 12-14 per cent during FY2017.
In Germany, the conversion of the recently acquired Joey’s Pizza chain (in conjunction with Domino’s Pizza Group plc) was 6 months ahead of schedule with all stores to be fully converted by 8 December 2016.
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