Domino's has released its preliminary results for the 52 week period that ended on 26 December of last year.
Details
According to a statement published on Investors.Dominos.co.uk, during the 52 week period, Domino's system sales were up 11.2% at £1,499.1m; like-for-like system sales, excluding splits, were up 10.9% (9.8% including splits); underlying like-for-like system sales (excluding the temporary benefit of VAT) grew by 5.5%, which was 150 basis points higher than last year's equivalent figure of +4.0%; underlying profit before tax was up by £12.7 million at £113.9 million; statutory profit after tax was up by £38.6 million at £78.3 million; free cash flow was £104.6 million following £99.0 million in 2020; net debt was £199.7 million, resulting in a net debt/underlying EBITDA leverage ratio of 1.54x; there was an additional £6.6 million investment in a new Northern Ireland joint venture; £136 million was returned to shareholders in FY21 through dividends and share buybacks and £14.3 million of capex to support store growth; a proposed final dividend for FY21 of 6.8p per share is to be paid on 10 May 2022, resulting in a total dividend for FY21 of 9.8p per share, which was an increase of 7.7% versus FY20; and there is a new £46 million share buyback programme, effective imminently, in line with capital allocation framework and commitment to distribute surplus capital to shareholders.
Additional Details
Additionally, the statement published on Investors.Dominos.co.uk said that orders were up 5.5% in the year; collections finished the year at 87% of 2019 levels; 91.2% of sales were through digital channels, and a new app was launched that now accounts for 42% of system sales (+2.2pts vs. 2020); 31 new stores were opened in the year, and Domino's is on track to open at least 45 new stores in FY22; Domino's has increased its medium-term targets to at least the upper end of £1.6 billion - £1.9 billion system sales and to exceed 200 new stores; and it opened its third UK supply chain centre in Cambuslang, Scotland.
The statement published on Investors.Dominos.co.uk also said that Domino's expects FY22 underlying EBITDA and EPS to be in line with current market expectations.
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