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Big cheese: Domino’s shatters the $10 billion ceiling as food boom continues

Pizza chain Domino’s has cracked $10 billion in market value and become one of the biggest beneficiaries of the pandemic.

Jun 07, 2021, updated Jun 07, 2021
Domino's CEO Don Meij (left) and Jack Cowin (right), owner of Hungry Jack's, (AAP Image/Darren England)

Domino's CEO Don Meij (left) and Jack Cowin (right), owner of Hungry Jack's, (AAP Image/Darren England)

The company’s shares have risen 78 per cent in the past year and it now sits behind Suncorp as the state’s second biggest listed company. Suncorp still has a handy $4 billion lead.

Domino’s has leapt past Aurizon to second place and the rail and logistics company has dropped more than $1 billion in market value in the year.

The top five spots on the Queensland ladder are held by Suncorp, Domino’s, Aurizon, Bank of Queensland, NEXTDC and Eagers.

The US version of the Domino’s is also booming with same store sales up 11 per cent and its UK counterpart is scrambling to fill 5000 jobs.

The Australian company’s half year earnings were up 32 per cent.

Domino’s, run by Don Meij, holds the master franchise licence to the Domino’s brand in Australia, New Zealand, France, Belgium, the Netherlands, Germany, Japan and Denmark. It operates more than 2,700 franchised and corporate-owned stores in these locations and has a target of 5500 by 2025.

But while Domino’s shares have soared from the takeaway food boom, there are other sectors that have created massive wealth as well.

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Eagers Automotive is up 111 per cent and has a market capitalisation of $4.1 billion.

In percentage terms there have been even bigger winners. AnteoTech has risen from 2 cents to 28, a 1300 per cent increase. PPK has jumped from $4.90 to $14.22 a rise of 190 per cent.

 

 

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