Domino’s Pizza Shares in Australia Surge More Than 10% on Earnings Report

This post was originally published on this site
© Reuters. © Reuters.

By Alex Ho – Australia-listed shares of Domino’S Pizza Enterprises Ltd (ASX:) jumped more than 10% on Wednesday in Asia after the company reported better-than-expected earnings.

The pizza chain said half-year net profits soared nearly 30% to A$69.2 million, while revenue jumped 29% to A$905.8 million.

The company also gave a bullish outlook for the year, with same-store sales growing 6.3 per cent across the group for the first weeks of the June half.

Chief executive Don Meij reaffirmed the company’s targets to increase its number of stores by 7 per cent to 9 per cent and boost sales by 3 to 6% each year over the next three to five years.

“The future of our business, and the wider quick service restaurant industry, is delivered food ordered online,” he said in the earnings statement. “We have the expertise and are building the store footprint to capture this opportunity,” he added

The company’s shares surged as high as 15.2% following the report. They last traded at A$63.2 by 12:45 AM ET (04:45 GMT), up 10.8%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment