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.

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