The New Zealand market continues to be a strong performer for Australian company Domino's Pizza Enterprises Ltd which today reported a 46.2 per cent decline in after tax profit.
The decline in profit was put down to the cost of a European expansion and poor first quarter sales
in Australia, which had already been signalled to the market.
The company's net profit after tax of A$3.5 ($3.97) million in the six months to December 31 was down from A$6.5 million last year.
The company is Australia's only publicly listed pizza maker and is the master franchisor for the Domino's Pizza brand.
Total network sales rose 42.1 per cent from the same six months last year but same store sales were up only 3.2 per cent.
The company is paying a dividend of A4.1c a share, equal to 72.4 per cent of its half-year profit.
Revenue grew 36.4 per cent to A$118.1 million, largely due to the company's European acquisition.
During the half year, Domino's added 181 stores globally bringing the total number of stores in the network to 619.
The company is forecasting that net profit after tax for the second half will be about 40 per cent up on the first half.
- NZPA
