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Britain's biggest pizza delivery company is to end its international operations, after what it describes as a 'disappointing' performance.
Domino's Pizza, which is separate from the US Domino's business, owns the franchise to operate the brand in the UK, Ireland and parts of Europe.
It owns Domino's operations in Switzerland, Iceland, Norway and Sweden, and is a minority shareholder in Germany as well.
In reporting the company's third quarter results, chief executive David Wild said the industry backdrop 'remains challenging'.
He added: 'Although the financial results have stabilised, the performance of our international business remains disappointing.
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'Over the past six weeks we have completed a review with external consultants, assessing each of our four international markets and the future prospects for our businesses.
'We have concluded that, whilst they represent attractive markets, we are not the best owners of these businesses. The board has therefore decided to exit the markets in an orderly manner.'
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Rachel Fox, equity analyst at Goodbody, said the announcement was 'not a huge surprise' but had come earlier than expected.
She added: 'The International business has been increasingly loss making over the years, due to factors including expensive labour and difficulties in grasping local consumer dynamics.'
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Russ Mould, investment director at AJ Bell, said the decision was 'sensible', adding: 'Management should be applauded for making the decision to pull out rather than digging themselves a bigger hole.'
Domino's said its group system sales rose 3.4% to £313.5m due to strong demand in the UK and Ireland.
But it saw a 2.7% fall in its international system sales due to issues such as a decline in tourist numbers in Iceland.
Despite launching a recovery programme in Norway, where it has 57 stores, Domino's said the improvement was weaker than expected.
But Sweden had better results, with three new stores performing well, and there was 'encouraging' trading performance in Germany, the company said.
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Domino's UK shares were up around 5% in early Thursday trading.
Trine 2: complete story download. Mr Wild also addressed an ongoing franchisee dispute.
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A group called Domino's Franchise Association UK & Ireland is demanding more support in the face of rising costs and also says Domino's is asking them to open more stores in existing locations, affecting their profits.
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Mr Wild said this dispute was continuing to affect 'normal working practices', adding: 'As we said at our interim results, this situation is complex and we expect a resolution to take time, certainly into 2020. We remain committed to working with our franchisees to agree sustainable win-win solutions. Turmoil download free pc.
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'We are investing in people and processes to enable us to better support our franchisees. A key hire for our business is Emily Somers, who joined us as chief marketing officer in August, and I am delighted to have her as part of the team.'