StockMarketWire.com
Domino's Pizza reported a modest rise in first-half profit after unusually hot weather crimped demand and costs rose at its international operations.

For the six months to 1 July, underlying pretax profit rose 2.5% to £45.7m, underlying earnings per share rose 6.8% to 7.8p and group system sales rose 12.8% to £616.6m.

Statutory profit before tax fell 9.7% to £41.7m.

Total group system sales growth was supported by new store openings and further like-for-like growth in the UK, and the Nordic acquisitions, the company said.

UK system sales were up 2.5% to £45.7m and Republic of Ireland up 2.5%, while International revenues notched record system sales of £51.5m , roughly 8.4% of the group total.

UK like-for-like system sales grew 5.9% which was faster than the 2.4% growth seen in the same period a year ago.

Performance in UK during the second quarter, however, was limited by a prolonged period of hot weather, which was partially offset by higher demand during the World Cup.

The firm said it opened 22 new stores in the first half, taking the total UK total to 1,067, amid plans to open around 60 openings in the UK this year.

Net debt increased to £182.1m as a result of the Iceland and Germany investments completed in January 2018, the £38.9m of share purchases in the first half and capital expenditure of £18.3m and the 2017 final dividend of £25.2m, the company said.

'The board expects that full year Underlying Profit Before Tax will be in line with current market expectations6. Our confidence in the future is underlined by continued growth in the dividend, and our ongoing investment in our own shares through the buyback programme,' said , Chief Executive Officer David Wild.

The Capital Group Companies, Inc. Increase their holding.

Oppenheimer sell some.

this was a long time fave of mine but have not now held for about 18 months
weak £ and rising wage costs and of course the short tenure of several FD's surely make this vulnerable rather than a buying oppotrunity

Yes me to certainly one to avoid at the moment.

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figures are actually unexciting at best, so today's rise looks unwarranted

Up nearly 7.5% at the moment!

Domino's Pizza Group updated the market on its fourth quarter trading on Tuesday, reporting a 5.8% uptick in organic group system sales, with UK system sales up 6.0% and UK like-for-like sales up 4.5%. The FTSE 250 company, which holds the master franchise for Domino's Pizza in several European countries, said its saw its "busiest week ever" in the run-up to Christmas, and reported "strong" digital performance, with online sales up 10.8%. However, due to weaker sales progress outside the UK and Ireland, and business integration challenges in Norway, full-year underlying profit before tax was now expected to be at the lower end of the consensus range of £93.9m to £98.2m.