The following reflects the income and share data used in the
basic and diluted earnings per share computations:
(Unaudited) (Unaudited)
26 weeks 26 weeks 52 weeks
ended ended ended
28 June 29 June 28 December
2015 2014 2014
GBP000 GBP000 GBP000
Profit for the period 25,446 19,698 42,738
Adjusted for - non-controlling
interests - 200 200
------------ ------------ ------------
Profit attributable to
owners of the parent 25,446 19,898 42,938
------------ ------------ ------------
(Unaudited) (Unaudited)
At At At
28 June 29 June 28 December
2015 2014 2014
No. No. No.
Reconciliation of basic
and diluted weighted average
number of shares:
Basic weighted average
number of shares (excluding
treasury shares) 165,823,987 165,084,656 165,471,079
Dilutive potential ordinary
shares:
Share options 1,328,336 586,001 547,979
Reversionary interests 394,136 243,094 582,848
------------ ------------ ------------
Diluted weighted average
number of shares 167,546,459 165,913,751 166,601,906
------------ ------------ ------------
(Unaudited) (Unaudited)
26 weeks 26 weeks 52 weeks
Ended Ended ended
28 June 29 June 28 December
2015 2014 2014
Basic earnings per share
(pence) 15.3 12.0 25.9
------------ ------------ ------------
Diluted earnings per share
(pence) 15.2 12.0 25.8
------------ ------------ ------------
There have been no other transactions involving ordinary shares
or potential ordinary shares between the reporting date and the
date of completion of these interim financial statements.
In addition, the performance conditions for share options
granted over 262,070 (29 June 2014: 3,143,856; 28 December 2014:
1,087,596) shares have not been met in the current financial period
and therefore the dilutive effect of the number of shares that
would have been issued at the period end have not been included in
the diluted earnings per share calculation.
Underlying earnings per share
The Group presents as non-underlying items below the income
statement, those material items of income and expense which,
because of the nature and expected infrequency of the events giving
rise to them, merit separate presentation to allow shareholders to
understand better the elements of financial performance in the
year, so as to facilitate comparison with prior periods and to
assess better the trends in financial performance.
To this end, basic and diluted earnings from continuing
operations per share is also presented on this basis and using the
weighted average number of shares for both basic and diluted
amounts as per the table above. The amounts for earnings per share
from continuing operations on an underlying basis are as
follows:
(Unaudited) (Unaudited)
26 weeks 26 weeks 52 weeks
ended ended Ended
28 June 29 June 28 December
2015 2014 2014
Underlying basic earnings
per share (pence) 15.3 11.6 26.6
------------ ------------ ------------
Underlying diluted earnings
per share (pence) 15.2 11.5 26.4
------------ ------------ ------------
Underlying profit and attributable to equity holders of the
parent is derived as follows:
(Unaudited) (Unaudited)
26 weeks 26 weeks 52 weeks
ended ended ended
28 June 29 June 28 December
2015 2014 2014
GBP000 GBP000 GBP000
Profit for the period 25,446 19,698 42,738
Adjusted for - non-controlling
interests - 200 200
------------ ------------ ------------
Profit attributable to owners
of the parent 25,446 19,898 42,938
Amounts excluded from underlying
profit - attributable to
equity holders of the parent - (821) 1,026
Amounts included in operating
profit - 453 1,426
Other gains and losses - (1,276) (1,147)
Discount unwind - 356 722
Taxation impact - 62 25
Prior year adjustment - impact - (416) -
on deferred tax asset
Attributable to owners of
the parent 25,446 19,077 43,964
------------ ------------ ------------
10. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment additions in the period
During the 26 weeks ended 28 June 2015, the Group acquired
assets with a cost of GBP2.6m (29 June 2014: GBP1.8m; 28 December
2014: GBP4.4m).
Capital commitments
At 28 June 2015, the Group had capital commitments of GBPnil (29
June 2014 and 28 December 2014: GBPnil).
11. INTEREST-BEARING LOANS AND BORROWINGS
Bank revolving facility
On 31 January 2014, the Group increased the existing revolving
credit facility with Barclays Bank plc to a GBP45,000,000 facility
(being a GBP30,000,000 revolving credit facility and GBP15,000,000
term loan) in order to repay the Employee Benefit Trust loan. On 31
January 2015, the term loan was repaid by the Group. Interest
charged on the term loan was 1.10% per annum above LIBOR. Interest
charged on the revolving credit facility is 1.35% per annum above
LIBOR in addition to a 0.5% utilisation fee. The facility expires
on 10 August 2017. Arrangement fees of GBP298,000 (29 June 2014:
GBP372,000; 28 December 2014: GBP372,000) directly incurred in
relation to the facility are included in the carrying value of the
facility and are being amortised over the term of the facility; at
28 June 2015, amortisation of GBP207,000 (29 June 2014: GBP134,000;
28 December 2014: GBP208,000) had been recognised against the
carrying value of the facility. The facility is secured by an
unlimited cross-guarantee between the Company, Domino's Pizza UK
& Ireland Limited, DPG Holdings Limited, DP Realty Limited, DP
Pizza Limited and DP Group Developments Limited.
Bank overdraft facility
On 5 October 2012, the Company obtained an overdraft facility
from Barclays Bank plc for a maximum limit of GBP5,000,000 for
working capital purposes. The interest is charged at 1.25% per
annum above LIBOR. At 28 June 2015, there was GBPnil drawdown on
the facility (29 June 2014 and 28 December 2014: GBPnil).
Other loans
Other loans include loans entered into to acquire assets which
are then leased onto franchisees under finance lease arrangements.
The Group has an asset finance facility of GBP5,000,000 (29 June
2014 and 28 December 2014: GBP5,000,000) with a term of 5 years.
The balance drawn down on this facility and held within 'other
loans' as at 28 June 2015 is GBP2,599,000 (29 June 2014:
GBP2,455,000; 28 December 2014: GBP2,278,000). The loans are
repayable in equal instalments over a period of up to five years.
The loans are secured by a limited guarantee and indemnity by the
Company and Domino's Pizza UK & Ireland Limited (limited to an
annual sum of GBP300,000) and a mortgage charge over the assets
financed. The interest rate on these loans is fixed at an average
of 5.7% (29 June 2014: 5.8%; 28 December 2014: 5.5%).
12. SHARE-BASED PAYMENTS
The expense recognised for share-based payments in respect of
employee services received during the 26 weeks to 28 June 2015 is
GBP664,000 (29 June 2014: GBP538,000; 28 December 2014:
GBP899,000). This all arises on equity settled share-based payment
transactions.
13. RELATED PARTY TRANSACTIONS
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