Shares in Domino’s Pizza jumped almost 10.5% this morning after the pizza chain came out of a three-day trading halt.
The trading halt began on Tuesday, just before a series of major announcements including its full-year profit announcement, and plans to acquire a majority stake in Domino’s Pizza Japan.
Domino’s posted a strong 2013 result. Underlying profit was $30.4 million, up 13% on the previous year, thanks to a 11.3% growth in revenue.
The pizza chain also revealed on Tuesday that it would spend more than $235 million to buy a 75% stake in Domino’s Pizza Japan from Bain Capital Domino Hong Kong.
IG market strategist told the AAP at the time that the acquisition was a good move for Domino’s.
CEO Don Meij said Domino’s expected to post a 15% increase in earnings in the coming year, and add 70-80 new stores globally during that time.
Domino’s was trading at $13.05 a share at about 11.30am.