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Dominos franchise profit slip

Profits at the country’s biggest Domino’s pizza franchisee, Shorecal, slipped last year to €8.8m from €9.2m in 2018, newly-filed accounts for the business show.dominos

Majority controlled by Northern Ireland’s Caldwell family, investors including Domino’s UK and the wealthy US-based Bronfman family took stakes in Shorecal last year.
Accounts for Shorecal, which controls about 30 Domino’s Pizza outlets in Ireland, show that its revenue rose 6pc to €53.7m last year. Higher interest charges pushed its profits lower than in 2018, however.
There were no dividends paid by the company last year, compared to €4.6m that had been paid in 2018.

 

Early last year, the Bronfman family, whose wealth stems from the Seagram drinks company, took a one-third stake in Shorecal.
Weeks later, the UK-based stock market-listed Domino’s Pizza Group – which controls the franchise in Ireland, the UK, Switzerland and Liechtenstein – bought a 15pc stake in Shorecal for €12.5m. That transaction valued Shorecal at just over €83m.
The company employs more than 540 people.

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