Report
Tony Sherlock
EUR 147.86 For Business Accounts Only

Domino's Beat Guidance Again and Upgrades Rollout Target. Fair Value Upgraded to AUD 55

Domino’s reported fiscal 2016 adjusted earnings of AUD 92 million, up 43%, ahead of guidance and around 4% ahead of our forecast. On a per share basis, growth was 41% to AUD 103 cents, providing a basis for Domino’s to boost full-year dividends to AUD 73.5 cents per share (70% franked).
While the growth in store numbers will slow in fiscal 2017, management raised its outer-year store target for Australia from 900 to 1,200, but left the targets unchanged for Europe of 2,500 (currently 816) and Ja...
Underlying
Domino's Pizza Enterprises Limited

Domino's Pizza is engaged in the operation of retail food outlets and the operation of franchise services. Co. operates in Australia, New Zealand, France, Belgium, The Netherlands, Germany and Japan. Co.'s reportable segments are focused on the geographical location in which it operates in: Australia/New Zealand, Europe, and Japan. As of Jul 3 2016, Co.'s total network store count was 714 in Australia and New Zealand, 816 in Europe and 453 in Japan.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Tony Sherlock

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