Wingstop’s annual revenue increased on the back of higher royalty and franchise fees, a bulk of which is due to domestic same-store sales growth and net new franchise development.

The restaurant chain’s net profit soared 32.5 per cent to $70.2 million as revenue expanded 28.7 per cent to $460.1 million.

System-wide sales rose 27.1 per cent to $3.5 billion amid 255 net new openings. Domestic same-store sales growth stood at 18.3 per cent.

Moreover, the 53rd week of the year generated an additional $1.5 million in sales.

“[Last year] marked the strongest year on record for Wingstop where we achieved 18.3 per cent domestic same-store sales growth, driven primarily by transactions, and we delivered an unprecedented 20 consecutive years of domestic same-store sales growth,” said Wingstop president and CEO Michael Skipworth.

“We have a proven playbook and I couldn’t be more excited by our opportunity to scale Wingstop to more than 7000 restaurants.”

For the current fiscal year, the company forecasts mid-single-digit domestic same-store sales growth and targets about 70 global net new units.