Domino’s Pizza Upgrades Profit by 30 Percent in Australia

According to the Australia-based, “Domino’s Pizza Enterprises Ltd has doubled its forecast for annual profit growth, which it now expects to rise by as much as 30 per cent after strong sales.”

“Domino’s said on Friday that it expects net profit for 2008/09 to be around $15.4 million. At the company’s half year results announcement in February, Domino’s said it was confident of achieving market guidance results for full year net profit growth of 10 to 15 per cent.”

“The upgrade comes after “strong network sales performance, foreign exchange gains and better than expected tax outcomes,” Domino’s said in a statement. Net profit is expected to grow between 20 and 30 per cent, profit before tax is forecast to increase 18 to 20 per cent, and earnings before interest, tax, depreciation and amortisation (EBITDA) to be up 10 to 12 per on the previous year,” the story said.