Domino’s Pizza on track for full-year forecasts

According to a news report from news.com.au, “DOMINO’S Pizza remains on track to meet full-year financial goals with strategies in place to offset the impact of higher commodities input prices and a strong dollar.”

“Don Meij, chief executive of Australia’s first publicly listed pizza chain, yesterday told the Brisbane-based company’s annual meeting its first-quarter trading was ahead of forecasts,” said the story. “Early last financial year Domino’s expanded via acquisition into France, the Netherlands and Belgium as its Australian and New Zealand markets neared saturation. Yesterday it said its international growth was poised to become “significant” for the business, exposing it to the Australian dollar’s strength. “The dollar has surged against the euro and New Zealand dollar but even in saying that, we’re still ahead. We plan to give indications for our performance both including and removing the currency effect,” Mr Meij said. Mr Meij said the European business was performing ahead of the forecast made for a modest profit this year and commodities costs there were already paid for.”

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