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Corrections & Amplifications
This headline was corrected at 6:20 p.m. ET to show that the company’s FY net profit was A$67.0 million, down 60% on-year, not A$173.3 million, down 25% on-year.
By Rhiannon Hoyle
Domino’s Pizza Enterprises on Wednesday reported a fall in full-year profit due to weaker orders, but said it expects an improvement in earnings in the year ahead.
The company said it made a net profit of 67.0 million Australian dollars (US$43 million), down from A$167.0 million in the same period a year earlier.
Directors declared a final dividend of 42.6 Australian cents a share.
“The company’s margins and earnings were affected by the decision to increase menu prices to protect the sustainability of more than 1,000 franchisee partners faced with extraordinary inflation,” which led to fewer meals sold, Domino’s said.
However, sales growth in Europe, Australia and New Zealand is strong early in fiscal 2024 and Domino’s expects material sales and earnings improvements this fiscal year, it said.
Write to Rhiannon Hoyle at [email protected]
Read the full article here
