Thursday, August 3, 2023 – 4:33 PM
ABU DHABI, 3rd August, 2020 (WAM) — Americana International Restaurants Company PLC, listed on the Abu Dhabi Stock Exchange, announced today its financial results for the first half of this year.
The company recorded revenues of $1.24 billion, and its adjusted earnings before interest, taxes, depreciation, and amortization amounted to more than $291 million, achieving growth of 7.8% and 7.7%, respectively, compared to the same period in 2022, supported by the expansion of the restaurant portfolio, and increased sales on a like-for-like basis. and enhance operational efficiency.
Americana Restaurants’ net profit (attributable to shareholders of the parent company) during the same period increased by 19.4% to $144.8 million.
The company achieved revenue growth of 13.5% in the second quarter of 2023, compared to the second quarter of 2022, while the net profit attributable to the shareholders of the parent company amounted to $86.6 million for the second quarter of this year, an increase of 16.7% after the adjustment resulting from the payment registration. The aforementioned one-time tax of US$25.5 million to settle an old indirect tax claim in Egypt.
Americana Restaurant’s strong year-on-year rise in revenue was supported by continued commitment to expand its diversified restaurant portfolio in its operations in the Middle East, North Africa and Kazakhstan.
The company added 108 new stores during the first half of the year 2023, bringing the total number of its restaurants on June 30, 2023 to 2,277 restaurants. Revenue growth was also supported by the positive development in sales on a like-for-like basis, as the comparison measures the revenue growth of restaurants that were in operation over a 12-month period.
Ahmed Al-Boutli / Al-Yazia Al-Kaabi
2023-08-03 12:33:00
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