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Summary
- Domino’s Pizza Group Plc reported a profit before tax of £101.2 million in FY2020
- 3 FTSE food and beverages firms are trying to deal with a post-pandemic reality
- Just Eat Takeaway NV had reported orders in the fourth quarter of 2020 was 57% more than last year
- Coca-Cola HBC AG’s volumes for 2020 were impacted by the pandemic
Domino’s Pizza Group Plc (LON: DOM) announced its preliminary results on Tuesday for 52 weeks ended 27 December 2020. The company’s statutory profit after tax increased to £39.7 million from £2.8 million in the same period a year ago.
Domino’s Pizza Group Plc CEO Dominic Paul said that to drive growth, the company has a multi-year strategic plan to deliver a profitable future for its investors. Paul said that the strategy would help the company to harness its strength in delivery and collection to provide customers with a better experience. Domino’s was up 9.47 per cent and was trading at GBX 339.20 as compared to its previous closing of GBX 310.40.
We will look at three other FTSE 250 F&B stocks and their performances:
Coca-Cola HBC AG (LON: CCH)
The FTSE 100 company in February reported a drop in profits as well as volumes for the year 2020. It said that its volumes had been impacted by the Covid-19 pandemic, but it managed to improve its trends by the second half of the year. The company’s net revenue from sales fell 12 per cent to €6.13 billion.
Also read: COVID-19 blues hit Coca Cola, thousands to lose jobs
The company’s pre-tax profit for the year was 10 per cent lower and came in at €593.9 million. The shares of the company were up 1.80 per cent and were trading at GBX 2,381 on the London Stock Exchange at 12:25 GMT after closing at GBX 2,339 in the previous session.
Just Eat Takeaway NV (LON: JET)
In January, the food-ordering company had said that due to the Covid-19 pandemic, the company’s orders in the fourth quarter of 2020 were 57 per cent more than last year in the same period. Social restrictions and changing lifestyles helped in boosting its online orders. In the third quarter, the company had posted 46 per cent jump in orders as more and more countries started depending on online orders.
Also read: Just Eat Takeaway.com N.V. to combine with Grubhub
JET shares were up 1.11 per cent and were trading at GBX 6,756 at 12:25 GMT, after closing at GBX 6,682 in the previous session on the London Stock Exchange.
Greggs Plc (LON: GRG)
For this British baker, the pandemic was a period of uncertainties and chaos. In January, it reported a slowdown in sales due to the pandemic and said that it does not expect demand coming back to pre-pandemic levels until 2022.
Also read: Covid Christmas rules: how will they impact British hospitality and retail?
The group had cut 820 jobs last year. The pandemic has forced the group to innovate and explore the home-delivery space. Its home-delivery segment, for which it tied up with Just Eat, was 5.5 per cent of the sales in company-run shops in the fourth quarter.
The company’s shares were up 0.47 per cent and were trading at GBX 2,148.00 on the London Stock Exchange at 12:25 GMT after closing at GBX 2,138.00 in the previous session.
