A massive international pizza franchise just saw its stock plummet more than 18%

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The company`s underlying net profit rose 28.
8 percent for the year ended July 2 to 118.
5 million Australian dollars ($93 million), short of company forecasts for growth of 32.
It was also below the A$122.
4 million average estimate of 11 analysts surveyed by Thomson Reuters I/B/E/S.
The stock plunged 22 percent in early trade to A$39.
50, its lowest since 2015.
It finished the day down more than 18 percent.
The company holds the franchise rights for Domino`s in seven countries including the Netherlands, Germany and Japan.
The Domino`s brand is ultimately owned by U.
-listed Domino`s Pizza.
The franchisee`s forecast miss was mostly caused by underperformance in France, Chief Executive Don Meij said in a statement.
"This was largely due to the delay in rectifying some issues with our online platform in France, and the initial response in H2 to our value range offering in France," he said.
Addressing the France issue in a separate interview with CNBC, Meij said, "We took two things away, added in something new, and the something new didn`t compensate for what we took away.
" Sales in Japan were also weaker than expected, he added, without elaborating.

Dramelin

Developer

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