PIZZA PROFITS SLICED

The boss of pizza giant Domino’s has been forced to defend his running of the firm.

David Wild’s management style has come under the spotlight amid reports of unrest among some of the biggest franchisees.

Three finance chiefs have also quit in the space of just three years.

Wild claimed not everyone got the firm’s culture. On claims of a dispute with larger franchisees, he said: “From time to time there are commercial disagreements.”

It came as shares in the UK-based arm of Domino’s slumped nearly 10% yesterday. The fall – which wiped £150million off its stock market value – followed mixed trading for the six months to July.

Sales rose 12.8% to £616m, with 8.2m pizzas sold during the World Cup. However, the hot weather has dented demand. It also scaled back store openings in the UK this year from up to 75 to about 60.

Half-year profits dropped 9.7% to £41.7m and losses widened in its overseas arm, which takes in Switzerland, Iceland, Norway and Sweden.

The firm also announced plans to close its Penrith depot, putting 70 jobs at risk.