Milton Keynes / UK. (dp) Domino´s Pizza U.K. + Ireland PLC, the leading pizza delivery company in the UK and the Republic of Ireland, announces its results for the 52 weeks ended 25 December 2011. Financial highlights:
- System sales increased by 9,3 percent to 530,6 million GBP (2010: 485,3 million GBP)
- Strong operational gearing drives operating margins, pre-Germany to 20,9 percent (2010: 20,2 percent)
- Profit before tax, pre-Germany losses of 1,4 million GBP, increased by 14,6 percent to 43,6 million GBP (2010: 38,0 million GBP), statutory profit before tax was 38,8 million GBP (2010: 35,2 million GBP)
- Like-for-like sales in 604 mature stores up by 3,0 percent (2010: 11,9 percent in 553 stores) with the UK stores up by 3,7 percent
- Earnings per share:
- Basic earnings per share up 12,2 percent to 19,48 Pence (2010: 17,36 Pence)
- Diluted earnings per share up 14,9 percent to 19,24 Pence (2010: 16,75 Pence)
- Diluted earnings per share, pre-Germany, up 18,6 percent to 19,86 Pence (2010: 16,75 Pence)
- Total dividend increased by 20,6 percent to 12,30 Pence per share (2010: 10,20 Pence)
- 62 new stores opened in the year (2010: 57 stores) and three closed (2010: nil) resulting in a total of 726 stores at the year end (2010: 665)
- Online system sales increased by 43,0 percent (2010: 63,0 percent) to 183,1 million GBP (2010: 128,0 million GBP) with online sales accounting for 44,3 percent of UK delivered sales (2010: 35,8 percent)
- Adjusted net debt to Ebitda of 0,4:1 (2010: 0,2:1), highlighting our low financial leverage.
Chief Executive Officer Lance Batchelor: «I am pleased, in my first full results announcement, to be able to report a good set of figures. It has been a busy year for Domino´s with an increase in system sales of 9,3 percent to 530,6 million GBP (2010: 485,3 million GBP), the launch of our new operations in Germany and the opening of a record 62 new stores. Our strong operational gearing has also driven operating margins, pre-Germany, to 20,9 percent (2010: 20,2 percent) and diluted earnings per share, pre-Germany, is up 18,6 percent to 19,86 Pence».
«Trading has continued to be robust during the first seven weeks of 2012 with like-for-like sales for the Group increasing by 3,7 percent. The UK stores are up 3,8 percent and, encouragingly, the stores in the Republic of Ireland are in positive territory, up 2,3 percent for the first time in three years. The consumer backdrop remains a tough one, but with record store openings and continuing appetite from our franchisees, we remain confident of the Group´s ability to drive both sales and profits going forward».
«We are delighted by the enthusiasm of some of our best UK franchisees with regards to the franchise opportunity in Germany and we are confident that our franchising model in this market will commence during 2012. I am excited and optimistic about the future and, with the support of our franchisees, we will continue to grow this outstanding business by focusing on opening new stores, testing new store formats and developing new products while always ensuring the customer is at the heart of everything we do».
Corporate Progress
- Delivered to 4,3 million households (2010: 4,0 million)
- Release of iPad and Android apps – in Q4/2011, mobile platforms accounted for 14 percent of online orders
- Took over one million GBP in daily online sales 17 times during 2011 (2010: 0)
- Acquired the Master Franchise Agreement for Germany along with two existing stores
- Opened four new stores in Germany
- Around 1’800 new jobs created in stores during 2011
- Recruited five new franchisees and increased average number of stores per franchisee to 5,7 (2010: 5,0)
- New head office opened at West Ashland, Milton Keynes
Chairman Stephen Hemsley: «It gives me great pleasure to be reporting another robust set of figures. It has been a good year for Domino´s with profit before tax and exceptional items rising by 10,9 percent to 42,2 million GBP (2010: 38,0 million GBP) and system sales rising by 9,3 percent to 530,6 million GBP (2010: 485,3 million GBP). In addition, adjusted diluted earnings per share has risen by 14,9 percent to 19,24 Pence (2010: 16,75 Pence). Among the many highlights of 2011, we acquired the Master Franchise Agreement for Germany, achieved a record 62 new store openings and took over one million GBP in a single day solely through online sales – a feat we have now repeated many times».
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