With more people eating at home due to lockdown restrictions, Domino’s has delivered a strong result in a difficult year, with net profit up 19.4 percent. Profit rose to $138.4 million across the quick-service chain, driven by revenue growth of 32.7 per cent to $1.9 billion.
Performance in Australia and New Zealand reflects the pizza chain’s growth in the United States, also spurred by COVID lockdown restrictions.
“I remain convinced the key to our company’s ability to adapt to meet changing regulatory and customer expectations has been the strength of the franchise model,” said local CEO Nick Knight, who explained that the growth demonstrated the importance of experienced, people-focused franchisees to the resilience of the business.
“Even where we were required to temporarily close 134 stores in New Zealand, the response from our franchisees to serve our communities through to their closing hours, and to be the first stores to reopen when able, was heartening.”
Together, Australia and New Zealand contributed $693 million in revenue during the year, and while global and local figures are heartening, they are not the most important factor in the company’s year according to Group CEO Don Meij. Throughout FY20, Domino’s employed 65,000 team members, advertised for a further 13,000, and purchased more than 15.5 million items of PPE to keep its people safe.
“These are some of the most important investments I have been involved with in more than 30 years in this business,” expressed Meij.
“The effect of societal restrictions is not entirely within our control. What is in our control is how we respond to our environment and customer expectations. The performance of our people during Covid-19 underpins our performance in the long-term future of our business [and] our franchisees will be the driving force of this expansion.”