Profits from pizza delivery firm Domino's Pizza were marginally ahead of market expectations despite its German operations taking a slice from the pie.
Profit before tax for the 52 weeks to Christmas Day 2011 rose by 14.6% to £43.6m from £38.0m the year before, though this figure excluded losses of £1.4m from the group's fledgling German operations; with German losses included, the profit of £42.2m was slightly ahead of market expectations of £42.1m.
Diluted earnings per share rose 14.9% to 19.24p (consensus: 18.89p) from 16.75p the year before, and the full year dividend has been hiked by 20.6% to 12.30p (consensus: 12.01p) from 2010's 10.20p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Like-for-like (LFL) sales in in 2011 were up year-on-year by 3.0%.
"Trading has continued to be robust during the first seven weeks of 2012 with like-for-like sales for the group increasing by 3.7%," revealed Lance Batchelor, Chief Executive Officer of Domino's.
Analysts were expecting a more impressive uplift in LFL sales given that sales in the early part of 2011 would have been dampened by the increase in the rate of value added tax to 20%.
More to follow ...
jh
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
