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Domino's Pizza drops despite profit boost

AAP  |  14 Feb 2018Text size  Decrease  Increase  |  
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BRISBANE - [AAP] Domino's Pizza (ASX: DMP) shares have dropped sharply in early trade after the company lifted first-half profit by 17 per cent but slightly reduced sales guidance for its Australia and New Zealand stores.

The fast food chain lifted its first-half net profit by 17.3 per cent to $58.7 million, while revenue for the six months to December 31 has risen 5.2 per cent to $567.6 million.

The company will pay a 40 per cent-franked interim dividend of 58.1 cents per share, up 20 per cent from the corresponding period last year.

Domino's says same-store sales in the Australia-New Zealand region had increased 5.9 per cent in the first five weeks' trading in the second half, and reaffirmed guidance for full-year net profit to grow around 20 per cent.

The company cut full-year same-store sales guidance for Australia-New Zealand stores to a range of six to eight per cent, from seven to nine per cent previously, while maintaining guidance for Europe and Japan.

Domino's shares were down $4.17 or 8.4 per cent to $45.33 at 1047 AEDT.

DOMINO'S BUILDS HY18 PROFIT PIE BUT OUTLOOK LESS TASTY

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* Profit up 17.3pc to $58.7m

* Revenue up 5.2pc to $567.6m

* Interim dividend 58.1 cents a share, 40pct-franked, up 20pc

 

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