Domino’s Australia profits jump 75 percent

According to a news report from news.smh.com.au, “Domino’s Pizza Enterprises Ltd has lifted its full year guidance after a stellar result in the first half.”

“The Australian owned and operated pizza chain booked a 75.8 per cent jump in net profit in the six months to December 31 to $6.1 million as it opened 27 new stores,” said the story. “Total revenue dipped two per cent to $115.8 million, mostly due to the sale of some stores that were fully owned by the company rather than franchised. Domino’s now expects to beat last year’s net profit of $9.1 million by at least 30 per cent. In November, the company forecast earnings growth of between 25 and 30 per cent for fiscal 2008. Domino’s shares rose 12 cents, or 3.9 per cent, to end at $3.22. The Brisbane-based company also expects to add 70 new stores to its network this year, an additional 10 stores over the previous estimate.”

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