Domino's Pizza pretax profit slides

Business | 12 Mar 2019 4:33 pm

Domino's Pizza Group said today that pretax profit for 2018 fell due to higher costs and that the board expects the international business to reach break even in 2019.

The pizza chain said that for the year ended December 31, pretax profit was £61.9 million compared with £81.4 million in 2017, Marketwatch reports. The company said it booked net non-underlying items for the year totaling £31.5 million. Some of these included impairment charges to the carrying values of businesses in Norway, Switzerland and Sweden, integration costs in Norway, and costs associated with the U.K. supply chain transformation.

Revenue was £534.3 million compared with £474.6 million the year before.

Stripping out exceptional and other one-off items, underlying pretax profit fell to £93.4 million from £96.2 million a year prior as continued sales and profit growth in the U.K., Ireland and Iceland were offset by losses in Norway, Sweden and Switzerland.

The board declared a final dividend of 5.45 pence a share compared with 5.25 pence for 2017. This brings the total dividend for the year to 9.5 pence a share, a 5.6 percent rise on year.

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