Domino’s posts 130pc lift in profit as Australia/NZ empire delivers for the pizza giant
Pizza giant Domino’s has booked a 136.5 per cent lift in full-year net profit to $96 million as its Australian and New Zealand empire delivers the strongest growth in seven years.
Earnings grew 3 per cent to $208m in the year ended June 30, aligned closely with market expectations ($209m) and was slightly above Ord Minnett’s estimate of $205m. Revenues lifted 2.7 per cent to $2.38 billion.
The Australia and New Zealand division was the best performer, with underlying earnings up 10.4 per cent to $124.1m across 898 stores.
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“The work we have done to deliver savings to the store network — to reduce costs in stores, and importantly in adding new, inspired products to the menu — has been crucial not only for our franchise partners, but also for customers as they increasingly choose Domino’s for the great value we offer for more meal occasions,” group chief executive Don Meij said.
“There is more work to be done, but we have made important steps, benefiting our customers, franchise partners and shareholders.”
In a trading update alongside the full-year results, Domino’s said sales for the 2025 financial year so far were slightly below expectations.
Domino’s last week promoted the sister of Mr Meij to the top job at its Australia and New Zealand division.
Formerly chief operating officer of Domino’s Australia and New Zealand, Kerri Hayman has spent almost 40 years with the pizza giant.
The appointment allows Mr Meij — who has been serving in dual roles as group and Australia-New Zealand CEO for the past year — to spend more time in Domino’s international markets like Japan and France, which have previously disappointed.
In July, Domino’s announced it would close up to 110 “loss-making” stores across Japan and France in a bid to cut costs. The closures are expected to be completed in the first half of the 2025 financial year.
Operating mostly under a franchise model in Australia, Domino’s in the past has been weighed down in Japan by a larger number of head office-owned stores.
