After delivering record profit, Domino’s Pizza plans to double store count in Australia & NZ over next 10 years

The 24 percent drop in Domino’s Pizza’s profitability warned by if the fast food chain’s Australian operations is forced to pay weekend, after-hour penalty rate did not happen at all. Instead, Domino’s Pizza delivered a record full-year profit of $92 million in the 2016 financial year, or an increase of 43.6 percent.

Because of the record profit, Domino’s plans to double its store count in Australia and New Zealand over the next 10 years, reports News.com.au. The fast food chain attributes its record profit to disruptive digital initiatives which resulted in faster delivery, more efficient ordering and payment platforms.

Domino’s does not only want to add stores. It could possibly buy Eagle Boys, a failed competitor. Don Meij, chief executive of Domino’s, explains, “Opportunities have been presented to us for acquisition … Where management has the capacity and capability, we will look to expand the business also through that area.”

Meij acknowledges that with the planned 1,200 stores across Australia and New Zealand, Domino’s in still tiny in the fast food industry, although it is big in pizza. It is only the fourth-largest quick-service restaurant in the two countries, making up for 2.7 percent of the fast food market.

But in six of seven countries, including Japan and Germany, Domino’s – which reported total network -sales increase of 32.7 percent to $1.964 billion, backed by strong same-store sales growth – is the market leader.

Meij reveals that Domino’s Pizza would roll out in September its biggest menu overhaul by adding new pizzas, side dishes and desserts, focusing on healthier foods, reports Australian Financial Review.

VIDEO: Domino’s Salads TV – Every Six Seconds

Source: Domino’s Pizza