Home News Americana Restaurants net profit in first nine months up by 15.8% to $226.7 mn Y-o-Y

Americana Restaurants net profit in first nine months up by 15.8% to $226.7 mn Y-o-Y

by Dubaiforum

ABU DHABI, 2nd November, 2023 (WAM) – Americana Restaurants International PLC (Americana Restaurants) today announced its financial results for the nine-month period ended 30 September 2023.

Americana Restaurants’ reported revenues of $1,897.0 million and adjusted EBITDA of $446.5 million for first nine months of 2023, thus delivering 7.1% and 10.4% growth respectively vs. the same period in 2022. Revenue growth was supported by continuing like-for-like revenue growth and growing restaurants portfolio across countries of operation in the Middle East, North Africa and Kazakhstan.

The company reported 6.0% increase in like-for-like revenues for the nine months ended 30 September 2023 in comparison to 2022. This increase in revenues was driven by a robust performance of the Company’s three power brands – KFC, Pizza Hut, and Hardee’s.

Americana Restaurants’ nine months 2023 net profit (attributable to shareholders of the Parent Company) increased by 15.8% to reach $226.7 million. Net Profit growth has been driven by business growth and improved operational efficiency as well as the impact of one-off tax claim charges in Egypt of $24.9 million during the same period in 2022.

In Q3 2023, the Company reported $655.5 million in revenues with a solid growth of 5.9% vs same period last year.

Net profit (attributable to shareholders of the Parent Company) for the quarter increased to $81.9 million, a growth of 9.9% over same period last year. This growth is on account of revenue growth and improved operational efficiencies, with the support of normalizing commodity inflation.

Tariq Al Fahaam

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