Dough keeps rolling in for Domino's

Dough keeps rolling in for Domino's

The pandemic might have been tough for some but Domino's has used the time to grab an extra slice of the pizza market.

The Don Meij-led company issued a trading update at its annual general meeting (AGM) today, reporting 14.9 per cent network sales increase on the prior year.

Group CEO and managing director Don Meij said a people-first approach to navigating COVID-19 had ensured Domino's stores had emerged from the pandemic's first stages in a resilient position.

"Throughout COVID-19 we have invested in safety and put people first; our team members, franchisees, customers and communities," he said.

"These same principles that allowed us to serve our communities through COVID-19 so far, will be the same that will ensure our continued performance regardless of how long this pandemic continues."

He also pointed to 13,000 additional team members hired during FY20 as sign of the company's health.

"In the early stages of this pandemic, I advised Domino's would rely as little as possible on any government support.

"Accordingly, despite being eligible in one of our subsidiaries, Domino's Pizza Enterprises Ltd will not accept JobKeeper or JobMaker support in FY21 in our corporate stores or head office.

"Even without assistance, we intend to invest in our people and to hire new team members in all markets; as we grow our network and sales."

Mr Meij said Domino's fortressing strategy of opening more stores, closer to customers, had been key to continued trading during COVID-19.

"As customers in all countries turned increasingly to delivered meals, ordered online, Domino's stores were well placed to meet this demand, without sacrificing safety, customer satisfaction or store profitability."

There was good news for Domino's shareholders with the company announcing a final franked dividend of 52.6 cents a share.

The full year dividend of 119.3 cents per share was up 3.3 per cent on the prior year.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

The cost of not communicating: How Whispir’s tailored messaging tech lifts engagement
Partner Content
While it is common for businesses to haggle with suppliers over small price differences...
Advertisement

Related Stories

JOLT, Endeavour Energy to install 1,000 free EV charging stations across Western Sydney

JOLT, Endeavour Energy to install 1,000 free EV charging stations across Western Sydney

More than a year after striking a deal with power provider Ausgrid ...

Metcash to open new Victorian distribution centre as earnings surpass $470m

Metcash to open new Victorian distribution centre as earnings surpass $470m

Metcash (ASX: MTS), the Australian wholesaler and distributor for b...

Blackstone completes $8.9b takeover of Crown, its “largest investment to date in Asia”

Blackstone completes $8.9b takeover of Crown, its “largest investment to date in Asia”

The long-awaited and heavily-scrutinised takeover of casino and hot...

Administrators proffer alternative to liquidation for Probuild parent

Administrators proffer alternative to liquidation for Probuild parent

A Deed of Company Arrangement (DOCA) is the preferred way forward f...