Domino's profits soar for first half
The brand released its financial results ended December 31 2016, and recorded underlying net profit growth of 56.7% to $45.6 million.
Domino's said that organic growth was the reason for the underlying results, with recent acquisitions in France and Germany not yet contributing to the earnings.
With markets in Australia, New Zealand , Belgium, France, The Netherlands, and Japan, the company reported strong group same store sales of 10.3% for HY16. Group underlying revenue jumped 29.6% to $445.3 million, while underlying EBITDA grew 44.9% to $87 million.
In light of the positive results, Domino's also announced that it will be upgrading its underlying growth guidance to 35% for FY16, from a previous 30%. The company also maintained its target of 4,250 stores by 2025, including 900 stores in ANZ, 2,500 in Europe, and 850 new stores in Japan.
In addition to its strong performance in the ANZ region, Domino's also launched the company's first 10-minute delivery store in New Farm, Queensland. The company revealed that its plan for the next three to five years is to cut down delivery time for its stores to just 10-12 minutes.
"Our commitment is to a philosophy of being 'slow where it matters, fast where it counts'," CEO and Managing Director Don Meij said.
"Slow in the careful preparation of high quality pizzas, safe delivery and friendly service at the door. Fast in that we are cutting the cook time in half, hustling to and from cars and using faster ovens and improved technology. This philosophy is expected to deliver strong growth for a number of years as it is delivered throughout our global DMP network."
"The significant investment in our digital pipeline, as well as the opening of more than 50 new stores for FY16 (in ANZ) will continue to improve productivity and drive sales in the second half and beyond," Meij said.
