Domino's Pizza Group FY Underlying Profit Before Tax Declines; LFL System Sales Excl. Items Up 5.3%

(RTTNews) - Domino's Pizza Group Plc (DOM.L, DPZ) reported that its fiscal 2022 statutory profit after tax from continued operations declined to 81.6 million pounds from 90.7 million pounds, prior year. Earnings per share from continuing operations was 18.7 pence compared to 19.6 pence.

Underlying profit before tax declined to 98.9 million pounds from 113.9 million pounds, previous year. Underlying earnings per share was 18.7 pence compared to 20.2 pence. The decline was primarily as a result of costs associated with technology platform of 7.6 million pounds and increased interest charges of 4.9 million pounds.

For the 52 weeks ended 25 December 2022, Group revenue was 600.3 million pounds compared to 560.8 million pounds, last year, primarily driven by increases in supply chain revenue. The Group said this was principally as a result of increased food costs, which are passed through to franchise partners.

Reported system sales were 1.46 billion pounds, down 2.8% due to the change in VAT rate year-on-year. Excluding the change in the VAT rate, like-for-like system sales were up 5.3%.

Total dividend was 10.0 pence per share, with final dividend of 6.8 pence per share proposed to be paid on 11 May 2023.

Like-for-like system sales excluding split stores and VAT in the first ten weeks have increased by 10.8% with orders up 2.5% and new app customers up 46%.

The Group expects fiscal 2023 EBITDA to be broadly in line with current market expectations before technology platform costs.

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