Domino's NZ reports strong first-half profit
posted on 16th February 2017
ASX-listed Domino's Pizza Enterprises, which franchises 106 stores in New Zealand, posted net profit after tax of A$59.7 million ($63.8m) for the six months to January 1 - up 30.8 per cent on the same period the year before. The New Zealand stores were a strong contributor to the results, said NZ general manager Scott Bush.
Group chief executive Don Meij attributed the result to its focus on digital innovation, easy payment solutions and investment in premium ingredients, as well as support for its recently upgraded menu.
In its results briefing, the company sought to reassure shareholders after revealing it had returned A$4.5m in unpaid wages to staff over the last three years and seen 26 franchisees leave after internal audits.
Meij said the there was "no correlation between store profitability and the underpayment of staff wages" and the company had zero tolerance for unethical behaviour.
"I make no apologies for expecting the highest standards from our franchisees," Meij said.