Domino's Pizza Enterprises said it's reinvesting into store and franchise profitability after successfully delivering on a $50 million savings program and witnessing earnings growth.

The promise was made as the ASX-listed QSR dished up its full-year financial results, including network sales of $4.189bn, up 4.6% year-on-year, along with a 3% rise in group EBIT to $207.7m. Underlying net profit after tax was $120.4m, representing a 3.7% drop over last year's results.

However, average franchised store profitability in FY24 improved by +6.7% to $97,400, largely due to growing same store sales and a reduction in store operating costs. Global sales were +4.6% higher for the full year at $4.19 billion, with online sales growing +7.5% to $3.37 billion, accounting for 80.4% of total sales. Earnings were +3.0% higher than the prior year at $207.7m underlying EBIT.

The company's strategic review last year aimed to deliver cost savings, improve efficiencies, and lay a foundation for future growth.

Domino’s 898 stores in Australia/New Zealand delivered an underlying EBIT of $124.1 million (+10.4%), a record result for these markets. However, the Asian business was affected by external factors, including geopolitical tensions affecting Malaysia. Underlying EBIT was -28.7% to $42.9m.

“The work we have done to deliver savings to the store network – to reduce costs in stores, and importantly in adding new, inspired products to the menu – has been crucial not only for our franchise partners, but also for customers as they increasingly choose Domino’s for the great value we offer for more meal occasions," Don Meij, Group CEO and Managing Director of Domino's Pizza Enterprises said.

“Our performance in Australia/New Zealand and in Europe demonstrates our global strategy, with local nuances to reflect the preferences of customers, can grow market share and sales.

“Our results released today show in the most recent Financial Year, and in the most recent Half, our global strategy is reaching more customers on more occasions across the Group – this is growing earnings for our franchise partners and, in turn, for our shareholders.”

The H1 25 trading update shows same store sales at -1.3%, a dip Domino's attributed largely to timing issues as some larger markets compound highly successful limited time promotional campaigns or one-off events. The company announced in July that store openings in FY25 would be flat to slightly positive, with gross store openings at ~3% of the network, offset by targeted store closures to improve profitability in France and Japan.

“Combined, we believe we have the right foundations in place for our franchise partners to get the maximum benefit from additional sales,” and “There is more work to be done, but we have made important steps, benefiting our customers, franchise partners and shareholders. We thank all three for their continued support," Meij said.

The company will pay shareholders an interim dividend of 50.4 cents per share (unfranked).