...Domino’s Pizza Enterprises Limited (DMP) Student Research: This report is published for educational purposes only by students competing in the La Trobe Investment Research Challenge. 19th June 2012 Fast Food Industry 19 June 2012 La Trobe Investment Research Challenge Ticker: DMP Price: $9.7 EPS FY (c) 0.31 0.33 0.38 0.44 0.46 DPS (c) 0.22 0.23 0.27 0.31 0.32 Franking (%) 100 100 100 100 100 Recommendation: HOLD Target Price: $10.67 P/E (x) 29.81 29.14 25.29 22.26 21.22 Dividend Yield (%) 2.38 2.40 2.52 2.72 2.74 2011A 2012E 2013E 2014E 2015E Investment Summary We initiate coverage of Domino’s Pizza Enterprises Limited (DMP) with a hold recommendation and a target price of $10.67 using Discounted Cash Flow Valuation (DCF), offering a 10% upside from current stock price at $9.70 on 19th June, 2012. As DMP operates in regions with different levels of risks, growth and margins, our estimation of revenue is based on top down approach considering the market share in these regions. We believe DMP may offer a long term upside if it can successfully execute its business plan of opening new stores and maintaining its same store sales growth in Australia and New Zealand (ANZ) and France, Netherlands, and Belgium (Europe). Highlights Future growth driven by increasing store count: DMP currently owns over 900 stores, with the goal of opening 50-60 new stores per year over the next 5 years. Its franchise/corporate strategy allows a long-term target of 750 stores in ANZ...
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...START PT WP1-WP2 Lat1 = 31 º56 ºN - MP = 2011.4 Long1 = 50 º30 ºE Lat2 = 28 º36 ºN MP = 1780.9 Long2 = 48 º00 ºE D’Lat = 03 º20 ºN DMP = 230.5 Dlo = 02 º30 ºE x 60 x 60 D’Lat in Miles = 200 N.mi Dlo in Miles = 150 N.mi T/Co = Dlo/DMP(shift tan) DIST = Dlat x 1/CosCo =150/230.5(shift tan) = 200 x 1/Cos 33.05 T/Co = N033.05E DIST = 238.6 N.mi WP2-WP3 Lat2 = 28 º 36 º N - MP = 1780.9 Long2 = 48 º00 ºE Lat3 = 26 º 11 ºN MP = 1618.4 Long3 = 47 º40 ºE D’Lat = 02 º25 ºN DMP = 162.5 Dlo = 00 º20 ºE x 60 x 60 D’Lat in Miles = 145 N.mi Dlo in Miles = 20 N.mi T/Co = Dlo/DMP(shift tan) DIST = Dlat x 1/CosCo =20/162.5(shift tan) = 145 x 1/Cos 7.02 T/Co = N07.02E DIST = 146.1 N.mi WP3-WP4 Lat3 = 26 º11 º N - MP = 1618.4 Long3 = 47 º40 ºE Lat4 = 23 º12 ºN MP = 1422.5 Long4 = 43 º22 ºE D’Lat = 02 º59 ºN DMP = 195.9 Dlo = 04 º18 ºE x 60 x 60 D’Lat in Miles = 179 N.mi Dlo in Miles = 258 N.mi T/Co = Dlo/DMP(shift tan) DIST = Dlat x 1/CosCo =258/195.9(shift tan) = 179 x 1/Cos 52.79 T/Co = N52.79E DIST = 295.99 N.mi WP | NAME | LAT. | LONG. | PLOT. | DIST. | CO. | T.D | ETA | 1 | LtH. Conceicao | 31 º56 ºN | 50 º30 ºE | Mercator Sailing | 000 | 000 | 000 | 1100H 3/March/2013 | 2 | Cabo...
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...Domino’s Pizza Enterprises Limited (DMP) Student Research: This report is published for educational purposes only by students competing in the La Trobe Investment Research Challenge. 19th June 2012 Fast Food Industry 19 June 2012 La Trobe Investment Research Challenge Ticker: DMP Price: $9.7 EPS FY (c) 0.31 0.33 0.38 0.44 0.46 DPS (c) 0.22 0.23 0.27 0.31 0.32 Franking (%) 100 100 100 100 100 Recommendation: HOLD Target Price: $10.67 P/E (x) 29.81 29.14 25.29 22.26 21.22 Dividend Yield (%) 2.38 2.40 2.52 2.72 2.74 2011A 2012E 2013E 2014E 2015E Investment Summary We initiate coverage of Domino’s Pizza Enterprises Limited (DMP) with a hold recommendation and a target price of $10.67 using Discounted Cash Flow Valuation (DCF), offering a 10% upside from current stock price at $9.70 on 19th June, 2012. As DMP operates in regions with different levels of risks, growth and margins, our estimation of revenue is based on top down approach considering the market share in these regions. We believe DMP may offer a long term upside if it can successfully execute its business plan of opening new stores and maintaining its same store sales growth in Australia and New Zealand (ANZ) and France, Netherlands, and Belgium (Europe). Highlights Future growth driven by increasing store count: DMP currently owns over 900 stores, with the goal of opening 50-60 new stores per year over the next 5 years. Its franchise/corporate strategy allows a long-term target of 750 stores in ANZ...
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...the service providers and the North Wales Regional Tourism Partnership (TPNW), acting on behalf of Visit Wales. It also requires the involvement of a range of other parties with an interest in tourism, subject to local circumstances. There also needs to be a clear structure, terms of reference and lines of communication within the private and public sector partners/groups. There is no formally prescribed model for partnership working in destinations within or between the sectors. Different arrangements are being made in different areas and the local situation might require a tailored solution(s). It will be important to be flexible and adapt any model as experience dictates. The local authority’s role and structure in the context of the DMP The local authority comprises a large number of departments, most of which involve or have a bearing on the tourism sector. These are listed below with their tourism links bracketed and their statutory status identified: Non statutory: Economic development (regeneration, enterprise support, tourism and EU) Energy Island Project – (mitigating impact) Property (maritime services including harbours and moorings, coast management and protection, foreshore maintenance) Lifelong learning and information (museums, galleries, libraries, archives) Leisure and...
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...surrounding its careful marketing and intentional secrecy about the content of the launch, a different truth is emerging: that we are seeing the twilight of the stand-alone digital music player (DMP), a product category little more than 10 years old. That does not mean digital music players will vanish. Quite the opposite: the sector is still growing. Increasingly, though, the products have some sort of connectivity — whether wi-fi, mobile phone, Bluetooth or all three. But if you look closely, signs the stand-alone player is in decline are all around. The first, and most obvious, was Apple's announcement in its latest quarterly results that iPod sales fell year-on-year for the first time since the product's launch in October 2001. As the iPod dominates the market for DMPs, any drop in its sales indicates a fall in the market. Next is the news that in the last week of August, Sony's Walkman DMPs outsold the iPod in Japan for the first time in four years. But that was against a background where sales of DMPs fell by 13.5 per cent for the fifth month in a row; and Sony forecast that it would sell 6.7 million units in the year to March 2010 — compared to 7 million sold the previous year. A forecast by In-Stat (in-stat.com), a consumer-analysis company, suggests the market for stand-alone DMPs peaked in value last year at $21.8 billion and "will slow considerably over the next five years". It believes the market's growth fell below 10 per cent at the end of 2008 for the first time...
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...organizations motivate their workers to contribute in achieving a mission, provide them with accountability and fairness, and manage diversity among them (U.S. Government Accountability Office, 2005). On the other hand, high diverse operations provide their employees with low salaries (Blum et al.,1994). Unfair salaries have a negative impact on job satisfaction (Pelit et al., 2011). DMPs are essential in hotels to benefit from ethnic, cultural, and demographic diversity among workers (Manoharan et al., 2014). In addition, Allen et al. (2004) concluded that some operations have a diversity department within them. Moreover, it is essential to provide employees with a practical help on opening a bank account and how to acquire a national insurance number (Devine et al., 2007). The most important practices for valuing diversity are valuing a diverse workgroup by management, recognition of employees' capabilities by management, and providing employees with adequate opportunity to develop skills. Furthermore, managers should acknowledge differences of workers, respect them equally, and recognize them (Iverson, 2000). DMPs include training of leaders to manage diverse teams effectively, examining employment practices to remove all barriers that prevent members of historically marginalized groups from career development, and the development of employee affinity groups (Yang & Konrad, 2011b). Also, it is straightforward to select experienced trainers to implement diversity training well to avoid...
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...help manager identifying the root causes and resolutions for the problem. However, in order to execute using these models, styles, tools, and techniques effectively and successfully, a process must be in place to guide us step by step in a discipline manner yet flexible and allow us to alter or adjust and come up with the high quality outcome. Without a process, we are likely to drag decisions into our comfort zone, handling different situation in exactly the same way, even though they have little in common. Without an organizational decision process, dynamic can easily become the predominate driver of our organizational culture and effectiveness. (Decision Quality, n.d.). Decision making process (DMP) is a strategic activity to organizational, economical and societal life. DMP is also a key component of time management skills. An effective decision making process leads to making high quality decision which is what organization expected from managers. (Bloomberg businessweek, n.d.). In my current organization, the rational decision making process is most prevalent used normally. This rational decision making process consists of sequence of steps designed to rationally develop an utmost desired solution. The followings are the steps: 1. Identifying a problem or opportunity- This first step is part of framing the problem to recognize a problem or to see opportunities. 2. Gathering information – Once the problem or opportunity is identified,...
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...puma, rated, rookies, obey, once upon a time, scifen, rebel 8, society wesc, kid robot, bbc, billionaire boys club, bape a, bathing ape, bobby fresh, alife, am1, am90, am95, undftd, undefeated, fatlace, hype, hypebeast, jordan, air jordan, bmp, jordan 1, jordan 2 jordan 3, jordan 4, jordan 5, nike air jordan, nike jordan, adidas, lon , 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, i, ii, iii, iv, v, vi, vii, viii, ix, x ,xi, xii, xii, xiv, xv, xvi, xvii, xviii, xix, xx, xxi, xxii, nike, uptempo, foamposite, pro, flightposite, penny, fire red, olive, flip, dmp, defining moments package, much, more, spiz'ike, spizike, cool grey, lebron, carmelo, melo, king james, 23, sheed, dunk, sb, max 90, 95, a180, 360, anniversary, Jordan, Nike Air Max 90, Nike Air Max 95, Nike Low, Nike Mid, Nike, High, Abyss Black Cat, CheapFresh, OG, DS, Deals, the North face, What The Dunk,spizike, reebok, jordan, Mars, LRG,Low, Countdown, CDP, DMP, Haze, Six Rings,...
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...rot fungus, Lachnocladium sp. This enzyme was purified by anion exchange and gel filtration chromatography. Laccase activity was determined using ABTS (2, 2’-azinobis-(3-ethylbenzthiazoline)-6-sulphonic acid) substrate. The culture filtrate had maximum laccase activity of 1.62 U/ml after 14 days of incubation. The purified laccase had an optimum temperature of 50 oC and its optimum pH was 6 for ABTS. The activity of this enzyme was enhanced by Fe2+, Cu2+, Zn2+and Ca2+, and was inhibited by EDTA and sodium iodide. Laccase from Lachnocladium sp. had a Km of 0.119 mM and a Vmax of 0.313 U. © 2012 International Formulae Group. All rights reserved. Keywords: Lachnocladium sp., anion exchange chromatography, gel filtration chromatography, ABTS, DMP. INTRODUCTION Laccases (EC 1.10.3.2, p-diphenol: dioxygen oxidoreductase) belong to the...
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...SAMPLE ANSWER 01 CAM CAM Diploma Marketing and Consumer Behaviour December 2010 Contents Task 1: Marketing Principles Task 2: Communication Task 3: Communication, Advertising and Media Task 4: Consumer Behaviour Task 5: Channel Behaviour Appendices: Background information to THE AGE Appendices to task 2 4 - 14 15 - 20 21 - 31 32 - 43 44 - 47 48 - 54 References 55 - 57 Task 1 Word count 1618 Marketing Planning Planning is an essential task to ensure THE AGE continues to be a market leader. Drummond et al (2005) suggest planning should be systematic and structured, and is required in order to adapt to the changing business environment. The corporate objectives are at the heart of the marketing planning process (Brassington et al, 2000). The marketing plan will contribute to the corporate plan by developing specific functional strategies and tactics to achieve the corporate objectives. Figure 1.1 demonstrates the process. THE AGEs corporate plan is ‘to build on profits from the previous year and continue to be Britain’s number one quality selling newspaper’. From this, the marketing plan could be ‘to increase the number of subscribers’. Marketing planning process diagram A common framework to use in the planning process is the SOSTAC model, see figure 1.2 Marketing planning process • • Situational Analysis – The first stage of the planning process is to look at where the THE AGE is now - Britain’s number one selling quality newspaper with...
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...Assignment – Magazine Purchase Decision-Making Process Demographics Gender | Male | Rough income level : upper middle | Age | 37 | for this study: low = less than $20K, lower middle = $20-50K, upper middle= $50-100K, high = $100K | Marital Status | Married | | Target Market Fit A magazine subscription that included online access to current and archived article | Low | A magazine subscription that included access to articles on a reading device (i.e. Kindle, iPad) | Low | One-off, on demand purchases of magazine issues on a reading device (i.e. Kindle, iPad) | Low | DMP Description: Customer Decision Making Process (DMP) is really a very complicated process. Different customer will show difference expression during the process. The objective of this survey is to find out how customers make decision when they want to purchase magazines. Based on my interview and the DMP mode, analysis of this customer is as below: Life part: The internal fact to impact on this customer’s choice is this customer loves to know every single thing about fashion. Apparently, he is not satisfied by only searching data through internet. He wants to hold real magazine on his hand to enjoy the knowing process about information. That is why he likes to buy several magazines each month. The fact, he knows his needs very well, gives meaning, purpose and relevance to what he do. The external fact on this part is this customer connects to fashion industry closely. He is running...
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...Management Principles : Open Book Exam Questions November 2013 BATCH 15 SECTION A: “TRUE OR FALSE” QUESTIONS There are TEN (10) questions under this section. Answer ALL questions. (10 Marks) 1. Under Theory X, managers believe that their subordinates dislike work because they would rather be leaders than followers. (True/False) 2. The ability to view a situation broadly and solve problems to the benefits of all concerned is a conceptual skill. (True/False) 3. The four basic functions or activities of management are planning, organizing, leading and controlling. (True/False) 4. Controlling is the process of measuring work performance, comparing results to objectives, and taking corrective actions. (True/False) 5. Organizations actively pursue international business opportunities to take advantage of higher labor cost. (True/False) 6. A pro-active strategy is a level of socially responsible corporate behavior that takes preventive actions to avoid adverse social impact from company activities. (True/False) 7. Through quality management techniques, benchmarking involves systematically measuring the benches of all the departments to reduce pilferage and thefts. (True/False) 8. Continuous improvement is an attempt to maintain the quality advantage by always looking for new ways to improve the current performance. (True/False) 9. An ethical manager is one whose behavior is in conformance with the law and a broader set of moral...
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...Management Principles : Open Book Exam Questions November 2013 BATCH 15 SECTION A: “TRUE OR FALSE” QUESTIONS There are TEN (10) questions under this section. Answer ALL questions. (10 Marks) 1. Under Theory X, managers believe that their subordinates dislike work because they would rather be leaders than followers. (True/False) 2. The ability to view a situation broadly and solve problems to the benefits of all concerned is a conceptual skill. (True/False) 3. The four basic functions or activities of management are planning, organizing, leading and controlling. (True/False) 4. Controlling is the process of measuring work performance, comparing results to objectives, and taking corrective actions. (True/False) 5. Organizations actively pursue international business opportunities to take advantage of higher labor cost. (True/False) 6. A pro-active strategy is a level of socially responsible corporate behavior that takes preventive actions to avoid adverse social impact from company activities. (True/False) 7. Through quality management techniques, benchmarking involves systematically measuring the benches of all the departments to reduce pilferage and thefts. (True/False) 8. Continuous improvement is an attempt to maintain the quality advantage by always looking for new ways to improve the current performance. (True/False) 9. An ethical manager is one whose behavior is in conformance with the law and a broader set of moral...
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...REPO RT ON CEO(S A ND CFO (S RESP ONSIBILITIES I 078 INDEPENDENT A UDITOR#S REPORT I 08/ CONSOLIDATED BALA NCE SHEET I 081 CONSOLIDATED PROFIT A ND LOS S A CCO UNT I 083 CONSOLIDATED STATEMENT OF CAS H FLOW I 08 5 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY I 086 CONSOLIDATED LIQ UIDITY S TATEMENT I 087 BALANCE S HEET I 088 PRO FIT AND LOSS ACCOUNT I 1/ 0 STATEMENT O F CASH FLOW I 1/1 STATEMENT O F CHA NGES IN EQUITY I 1/2 LIQUIDITY STATEMENT I 1/3 NO TES TO THE FINANCIAL STATEMENTS I 1/4 ANNEXURE I 1 48 OFF S HORE BA NKING UNIT )O BU* I 160 MTB S ECURITIES LIMITED I 168 MTB CAP ITAL LIMITED I 18 0 MTB EXCHANGE )UK* LIMITED I 2/1 IUU[I S XMWVXZ +)*- = *12 DPZY\^ YX 46A#] LXO 47A#] DP]ZYX]TMTVT^TP] gqq scb `w rfc Ilqrgrsrc md Cf_prc pcb Aaa mslr_lrq md B_lej_bcqf )ICA B*- rfc Cmkn_ lgcq Aar- 2;;5- rfc B_li Cmkn_ lgcq Aa r- 2 ;;2 _ q _kc lbcb gl 3124 _lb rfc Sc aspgrgcq _ lb Evaf_lec Rsjcq- 2 ;98/ Tfc _a amslrgle nmjgagc q sq cb gl rfc npc n_ p_rgml md dgl_lag_j q r_rckc lrq _ pc _ nnpmnpg_rc _lb _pc amlqgqrclrjw sqc b `w rfc epmsn/ A jj k_rcpg_j bc n_ prspc q )gd _ lw* f_tc `cc l bgqajmqcb _lb cv nj_ glcb gl rfc lmrcq rm rfc dgl_ la g_ j qr_rc. kclrq/ Tfcpc _pc lm bcn_prspc q dpmk rfc npc qapg`c b _aa mslrgle q r_lb_pbq/ Cmkn_ p_ rgtc gld mpk_rgml f_q `c cl pc aj_qqgdgcb ufcpctcp lcac qq_pw rm amknjw ugrf rfc asppclr wc _p#q npc qclr_rgml/ Tfc _ sbgr amkkgrrcc md rfc B_li kcc rq ncpgmbga_ jjw ugrf rfc glrcpl_ j _ sbgr rc_ k rm pc tgc u rfcgp _ sbgr nj_lq_qqc qq rfc gp pc qnmlqg`gjgrgc...
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...Marketing Strategy Marketing Analysis Customers Needs (Rational & Emotional), Problems, Benefits Decision Making Process (DMP) What makes Customer move from one stage to another? Selling Process matches Buying Process Decision Making Unit (DMU) Initiators, Gatekeepers, Influencers, Deciders, Controllers, Buyers, Users Company Goals, Core Competence, Resources, Organization, Weaknesses Revenue & Margin, Market Share & Growth, Cost of Learning New Skills Competitors What/Who will the consumers compare us to? What are the strengths/weaknesses of rival offerings? How will competitors react? Collaborators Who can help us? What can they do for us? Can they capture sufficient value? Are there conflicts? Context Trends: Economy, Industry, Culture, Technology Government Role & Regulations Creating Value Market Segmentation Geographic (nations, regions, cities) Demographic (age, family size, occupation, education, gender, income) Psychographic (lifestyle, personality, values) Behavioral (product knowledge, usage, loyalty, attitude, benefits) Target Market Selection Customer Attractiveness of Segment to the Company Size, Growth, Profitability Accessible, Identifiable, Actionable Addressable, Credible Sustainable Attractiveness of Company to Segment Interested in what we have to offer Product/Service match their needs/wants/goals Company Operation: Can deliver product/service reliably Marketing: Can carry out marketing plan credibly Competitors Not serving the segment adequately or not in...
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