Domino's Pizza Group

Ticker DOM

Today's data summary

Market open
% change
+5.45%
Price Pence
274.90
Change
+14.20
As of 15:57 18 Oct 2018
Market cap. Pound sterling
1,297.15 million
As of 15:57 18 Oct 2018

Latest updates

Domino's rolls the dice on new finance chief

Domino's
Reuters

Like Spinal Tap did with drummers, pizza chain Domino's seems to go through an awful lot of finance directors.

This morning, it has named its newest chief financial officer, David Bauernfeind who hails from Connect Group, the company formerly known as WHSmith News.

Mr Bauernfeind is the fourth finance director to join the pizza maker in four years and replaces Rachel Osborne who left to join Debenhams.

Good luck Mr Bauernfeind.

Domino's shares in double-digit fall

A pizza
Domino's

Share's in pizza firm Domino's remain firmly in the red after the company warned earlier that rising costs in some overseas operations have taken a slice out of profits.

The share price is now down 10.3%, despite a good performance from the core UK arm.

Hargreaves Lansdown analyst Steve Clayton summed up investors' mood thus: "On balance, these results will be received with something between grudging acceptance and mild disappointment.

"Domino's is executing well in the UK with strong growth in sales and resilient earnings. But overseas, where the group has been expanding rapidly through acquisitions as well as new openings, profits have come in below par.

"The Norwegian business in particular has struggled to keep control of labour costs."

Domino's gains from casual dining slowdown

Pizza
Reuters

More on Domino's interim results.

It says that while casual dining in the UK is under pressure from slower consumer spending, it is a boon for Domino's.

It says: "Consumers' disposable incomes are flat, and operators in the casual dining sector continue to experience inflationary pressures from the national living wage, food costs and business rates.

"Domino's remains well placed to thrive in this market."

Norway casts pall on Domino's profit

Domino's
Domino's

Domino's has reported a drop in interim pre-tax profits on revenues up 12.8% at £616.6m.

Pre-tax profits fell to £41.7m in the six months to 1 July on £46.2m in 2017.

The pizza company said that while trade was good in the UK - with like-for-like sales up 5.9% - it said that internationally "it has taken us some time to refine the operating model and cost base at store level, particularly in Norway".

Domino's said it was "confident that the changes we have made will result in a better performance".

Domino's to sponsor esports league

Gfinity Challenger Series
Gfinity

Pizza firm Domino's has signed a sponsorship deal with Gfinity, an organiser and promoter of esports tournaments.

The companies did not disclose any financial details.

Under the deal the Domino's logo will appear on the shirts of players and Domino's will receive promotion on Gfinity social media.

In return Domino's will promote Gfinity.

Gfinity says its Elite Series has become the "go-to" tournament for competitive computer gamers.

Domino's finance chief's departure 'a shock'

Rachel Osborne's abrupt departure as Domino's Pizza chief financial officer is a "shock", according to analysts at Liberum.

The company notes that Domino's is now looking for its fourth financial director since 2015.

"We question whether there is an internal cultural issue, whether she cannot see a path to maximising her remuneration scheme or other issues? Whatever the answer is, it does not look good and begs corporate governance questions," Liberum says.

Domino's Pizza finance chief quits

Domino's Pizza
Newscast

The chief financial officer of pizza delivery Domino's has left the firm.

Domino's said Rachel Osborne stood down from her post yesterday. "We will now commence a search for her successor and make an announcement in due course," it said.

Ms Osborne had been in the position since October 2016.

In the same statement, Domino's said its board "reiterates the trading outlook it gave at the time of its full-year results in March, and the confidence in the Company's performance in 2018 and beyond".

Shares in Domino's were down 4.5% in early trading.

2018 looking good for Domino's

Dominos Pizza
Reuters

Shares in Dominos are up 3.5%.

It reported that like-for-like sales were up 7% in the first quarter, which is an acceleration of the 4.8% growth rate seen last year.

Domino's said it was helped by the timing of Easter and a strong performance over the New Year.

Analysts are pointing out that the second quarter could be boosted by the FIFA World Cup, which starts 14 June.

Domino's aims high

Domino's pizza
Domino's

Domino's had 1,045 stores in the UK as of 31 December, with another 147 in other markets.

The pizza delivery firm says a new supply chain centre in Warrington will help meet its target of reaching at least 1,600 sites.

"The market continues to be competitive but the strength of our brand and scale, combined with the expertise of our franchisees, are important competitive advantages in delivering quality, convenience and value to customers," Domino's says.