Domino’s hands back $792k JobKeeper cash
Domino's will return all JobKeeper payments it received last year, saying the need for the wage scheme has passed.
In a note lodged to the Australian Stock Exchange on Friday, the Brisbane-based pizza giant confirmed it would return $792,000 to taxpayers by the end of the current financial year.
Domino's franchises were eligible for JobKeeper during the height of the pandemic despite the company experiencing a profit hike due to increased demand for takeaway services.
The company's chief executive Don Meij said the scheme had served an important purpose during the peak period of uncertainty and allowed employees to stay connected with their workplace.
"We appreciate the availability and support of JobKeeper during a period of significant uncertainty," Mr Meij said.
"That period has passed, the assistance package has served its purpose, and we return it to Australian taxpayers with our thanks."
Domino's at its 2020 full-year results posted a profit of $138.4m, a 19.4 per cent rise on the previous year. Its revenue intake over the same period soared 32.7 per cent to $1.9bn.
The company is expected to reveal its half-yearly results for the 2021 financial year on February 17.
Domino's also noted none of its executive team received short-term incentives for the financial year where JobKeeper had been used to pay workers' wages.
"We have applied straightforward principles to navigate this pandemic: to put people first (both customers and team members), to stand side-by-side with our franchisees, to listen to health experts, and to avoid relying on unnecessary government assistance," Mr Meij said.
Originally published as Domino's hands back $792k JobKeeper cash