Domino's Pizza Group PLC (LSE:DOM) shares fell 3.1% to 283.8p despite the UK and Ireland group reporting higher profits than expected and backing its outlook for 2025.
Adjusted profit before tax for 2024 came in at £107.3 million, up 8.4% and ahead of consensus forecasts of £105.9 million.
The beat followed a strong fourth quarter in which like-for-like sales rose 3.0%, with total orders up 5.0%, continuing the trend of LFL sales improving every quarter in the year, up 0.7% over the whole 12 months.
Franchisee average EBITDA per store rose from £158k to £168k despite minimal growth in LFL sales.
In the first ten weeks of the year, total system sales were up 2.4%, with LFL sales growth slowing to 0.7%.
"2024 was the year when we returned delivery to growth, and in the current environment we see an opportunity to drive further growth in collection orders in 2025 through value-based marketing campaigns," the company said.
It is targeting more than 50 new store openings in 2025.