Milton Keynes / UK. (dp) Domino´s Pizza U.K. + Ireland PLC, a leading pizza delivery company with stores in the United Kingdom, Ireland and Germany, announces its results for the 26 weeks ended 24 June 2012. Financial highlights:
- System sales (1) increased by 11,0 percent to 286,9 million GBP (2011: 258,4 million GBP)
- Strong operational gearing driven operating margins (2), excluding Germany, to 20,9 percent (2011: 19,9 percent)
- Profit before tax (2), excluding Germany, increased 15,2 percent to 23,3 million GBP (2011: 20,2 million GBP). Profit before tax, including Germany, after exceptional items, was 21,5 million GBP (2011: 19,0 million GBP)
- Like-for-like sales (3) in 662 mature stores up by 5,2 percent (2011: 2,4 percent in 607 stores), 5,5 percent at a constant exchange rate
- Like-for-like sales in the UK increased 5,7 percent (2011: 3,4 percent)
- Like-for-like sales in the Republic of Ireland, in EUR, up by 2,9 percent (2011: down 8,4 percent)
- Earnings per share (2):
- Diluted earnings per share, excluding Germany, up 16,1 percent to 10,68 GBPence (2011: 9,20 GBPence)
- Basic earnings per share up 11,8 percent to 10,29 GBPence (2011: 9,20 GBPence)
- Diluted earnings per share up 11,6 percent to 10,16 GBPence (2011: 9,11 GBPence)
- Interim dividend increased by 20,0 percent to 6,60 GBPence per share (2011: 5,50 GBPence)
- Total of 23 new stores opened in the period (2011: 22 stores) with one closure (2011: one) resulting in a total of 748 stores as at 24 June 2012 (2011: 688). On track for opening 72 stores during the year (2011: 62)
- Created over 600 new jobs in stores, expected to rise to nearly 2’000 by the year end
- Online system sales increased by 43,4 percent (2011: 50,9 percent) to 121,2 million GBP (2011: 84,5 million GBP) with online sales accounting for 52,4 percent of UK delivered sales (2011: 41,9 percent). Of this, 17,9 percent of online orders were taken through a mobile device
- Good progress being made in Germany, encouraging trading and four stores opened during the period (2011: nil)
- Strong balance sheet with adjusted net debt (4) to Ebitda of 0,4:1 (2011: 0,4:1).
Commenting on the results Chief Executive Officer, Lance Batchelor, said: «I am delighted to be able to report such a strong set of half year results. Coming on top of a solid start to the year during the first three months of 2012, we have delivered like-for-like sales growth of 5,2 percent across the system in the first half (2011: 2,4 percent). In addition, it has been a very busy and successful first half for our emerging German business with four new stores opened. Our franchisees have made the most of the opportunities presented by a combination of rain, sport and national celebrations and delivered some great figures during the second quarter».
«The coming months should provide a real opportunity for our business. We have great new locations coming into play in the UK, our 1-2-1 marketing programme is showing encouraging returns and the opportunity in Germany is looking better by the day. Add to this the best franchisees in the business and the future looks bright».
«Trading since the half year end has continued in line with our expectations. While the consumer backdrop remains tough we are confident about the future and our expectations for the year as a whole remain unchanged».
(1) Sales made by franchisees from all stores in the UK, Republic of Ireland and Germany to the public
(2) Pre-exceptional items
(3) Like-for-like sales are sales in stores that were open before 26 December 2010, excluding stores in Germany
(4) Excludes Domino´s Leasing Limited´s non-recourse loans and the non-controlling shareholder loan in Germany