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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    UK’s Domino’s expects tech investments to hit 2023 profit

    Published by Uma Rajagopal

    Posted on March 9, 2023

    Featured image for article about Top Stories

    (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, 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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