Domino's Pizza shares are on a tear after posting a 44.2% rise in profit

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Domino’s Pizza half year profit jumped 44.2% to a record $29.1 million on the back of digital innovation and a booming business in Japan.

Revenue was up 29.5% to $346.6 million.

The company announced a fully franked 24.6 cent dividend.

CEO Don Meij says the first five weeks trading has been strong during the of the second half of the financial year.

The company has further upgraded earnings growth guidance to 30% and net profit growth to 32.5%.

Meij expects Domino’s Pizza Japan will be in the number one position in the pizza delivery segment before the end of the financial year.

Domino’s will open its 1,500th store later this year. It currently has 1,435 stores, including 648 stores in Australia and New Zealand, 427 in Europe and 360 in Japan.

Its shares were up 21% to $33.00.

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