Domino’s Pizza Delivers Increased Profits

Domino’s Pizza Delivers Increased Profits

This morning, Domino’s Pizza Enterprises has lifted its full-year earnings targets after posting record profit gains with half-year earnings rising more than 50 per cent. The pizza company delivered a net profit of $43.3 million in the first half of fiscal 2016, up 56.7 per cent from the $29.1 million recorded last year. They have upgraded their guidance for underlying EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) and profit to be in the region of 35% for 2016.

The fast food chain hit records in all its six markets for online sales growth and shares have rocketed to $56.25 (11.22am). Shareholders have been rewarded with a 40-plus per cent increase in their interim dividend. The growth is due to the company’s strong focus on developing and delivering online platforms resulting in cost and operations efficiencies.

To all you pizza lovers out there, there is more good news to deliver! Domino’s launched its first 10-minute delivery store in New Farm, Queensland last December. CEO Don Meij says he hopes to achieve delivering pizzas nationally in 10-12 minutes over the next three-five years.

Jess is the lead news editor for Australia Business. When she's not writing and reading about business, she's probably endlessly scrolling through Instagram or downloading apps she may or may not need.