Domino's Pizza Group FY23 Underlying Profit After Tax Declines

(RTTNews) - Domino's Pizza Group Plc reported statutory profit after tax of 115.0 million pounds on a 53-week basis, up from 81.6 million pounds, last year, primarily as a result of the disposal of the investment in the German associate which generated a non-underlying profit on disposal of 40.6 million pounds. Statutory EPS increased to 27.9 pence from 18.7 pence, largely due to the profit on disposal of the investment in the German associate. Underlying profit after tax was 73.7 million pounds, a decrease from 81.6 million pounds in 2022. Underlying profit after tax was 75.7 million pounds on a 53-week basis. Underlying EPS decreased to 18.4 pence on a 53-week basis from 18.7 pence, which is due to a decrease in underlying profit after tax.

Reported revenue was 667.0 million pounds for 52 weeks to 24 December 2023, an increase of 11.1% from prior year. Group revenue was 679.8 million pounds, for 53 weeks to 31 December 2023.

Looking forward, the Group expects fiscal 2024 underlying EBITDA in line with current market expectations.

The Board has proposed a final dividend of 7.2 pence per share, giving a full year dividend of 10.5 pence per share, a 5.0% increase compared to the prior year.

Domino's Pizza Group plc said it has signed a binding sale and purchase agreement to acquire the remaining 85% shareholding it does not already own in Shorecal Limited, the largest Domino's franchise business operating in the Republic of Ireland and Northern Ireland, from Charles Caldwell, Adrian & Anne Caldwell, and SC Holdings I Ltd, an investment vehicle controlled by Radcliff Management in partnership with the Bronfman Family Office LLC, for a total consideration of 72 million euros. Shorecal operates 34 of the 99 Domino's stores across the Republic of Ireland and Northern Ireland.

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