# UK’s Domino’s expects tech investments to hit 2023 profit
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-09
Category: INVESTING
Category URL: https://financedigest.com/category/investing
Meta Title: Domino's Pizza Group Profit Impacted by Cloud-Based
Meta Description: Find out how Domino's Pizza Group PLC's profit was impacted by investments in cloud-based technology platforms, causing shares to drop over 8%.
URL: https://financedigest.com/uks-dominos-expects-tech-investments-to-hit-2023-profithtml

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(Reuters) -Britain’s Domino’s Pizza Group Plc said on Thursday its profit this year would be impacted by investments in cloud-based technology platforms, sending its shares down more than 8%.

The company said it expects underlying core profit this year to be within market expectations, excluding about 9 million pounds ($10.69 million) to be incurred in costs from investments in two new cloud-based IT systems.

Brokerage Jefferies, however, said the outlook including investment costs implied a 7% decline from the group’s market forecast of 137.6 million pounds for 2023.

Domino’s reported 2022 underlying core profit of 130.1 million pounds, compared with 136.4 million [pounds in the previous year](https://www.financedigest.com/commonenergy-mistakes-costing-homeowners-hundreds-of-pounds-each-year.html "Commonenergy mistakes costing homeowners hundreds of pounds each year"), affected by the technology investments, higher costs and food inflation.

Shares of London-listed Domino’s, a franchisee of U.S.-based Domino’s Pizza Inc, was down 8.2% at 0900 GMT. ($1 = 0.8426 pounds)

($1 = 0.8421 pounds)

(Reporting by Muhammed Husain in Bengaluru; Editing by Savio D’Souza and Devika Syamnath)


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