The S&P/ASX 200 Index (ASX: XJO) went up by 0.13% today to 7,312 points.
Here are some of the highlights from the ASX:
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Domino's Pizza Enterprises Ltd. (ASX: DMP)
The Domino's share price increased over 1% today after announcing a takeover.
It has entered into an agreement to buy PizzaVest Company, which is Domino's Taiwan.
Domino's Taiwan operates 157 corporate and franchised stores and is the second largest pizza chain in Taiwan.
Management believe that there is long-term market potential of more than 400 stores and expect an uplift in earnings after adding its IT capabilities and operating expertise to the market and leveraging its regional synergies.
As a result of the acquisition, Domino's has revised its future store count outlook in Asia from 1,500 stores to 1,900 stores by 2030 to 2032.
The cost is approximately $79 million on a cash and debt free basis, to be funded by cash and debt facilities.
The ASX 200 share said that investments in IT, infrastructure and additional management resources in the first few years to enhance its customer offering, system performance and building for long-term growth.
The ASX 200 company said that will add low single digit earnings per share (EPS) accretion on a FY20 pro-forma basis, excluding integration, reorganisation and transaction costs.
The acquisition is expected to close in the first half of FY22.
Premier Investments Limited (ASX: PMV)
The Premier Investments share price went up 0.4% today after giving a trading update.
Premier Retail announced that total global sales for the first 18 weeks of the second half of FY21 ending 5 June 2021 were up 70% on the comparable period of the second half of FY20 and up 15.8% on the comparable 18 weeks of the second half of FY19.
The ASX 200 share said that trading for Easter, Mother's Day and May was strong.
Although there is still a lot of uncertainty, Premier said it's expecting retail earnings before interest and tax (EBIT) for the 53 weeks to 31 July 2021 to be in the range of $340 million to $360 million (pre-AASB 16). That range would represent an increase of between 82% to 92% on the 52 weeks of FY20 and an increase of between 103% to 115% on the 52 weeks of FY19.
Executive director Mark McInnes said:
Today's FY21 EBIT upgraded range will represent another record result for Premier's shareholders. The strategic decision taken last year by the Chairman and I to build our supply chain and significantly invest in wanted inventory for Easter, April school holidays, Mother's Day and the winter season has ensured we are in stock, delivering strong sales and gross margin growth across all our brands.
AMP Limited (ASX: AMP)
AMP announced today the appointment of its AMP Capital CEO.
It's going to be Shawn Johnson, who has served as senior managing director and chairman of the investment committee of State Street Global Advisors (SSGA) for almost a decade.
In this role, he had global oversight and responsibility for over 450 investment strategies and US$2.1 trillion in client assets, including management of all SSGA's private equity businesses.
As AMP Capital CEO, Mr Johnson will lead its investment growth strategy and the proposed demerger of the private markets businesses which is expected to complete in the first half of FY22.
