The results of Americana International Restaurants Plc revealed that net profits increased by 75.76% in the second quarter of 2023, compared to the same quarter of 2022; Supporting sales growth.
According to the company's data on the Tadawul website, today, Thursday, the net profit after zakat and tax rose to 324.89 million riyals, compared to 184.85 million riyals; for the second quarter of last year.
The company stated that the increase in net profits was supported by sales growth. Due to increased growth on a like-for-like basis, in addition to the continued expansion of the restaurant portfolio and improved gross profit margin.
On a quarterly basis, the company's profits increased by 49.04%, compared to the profits of the previous quarter, which amounted to 217.98 million riyals.
The company recorded an increase of 19.38% in net profits during the first half of 2023, bringing the company’s profits to 542.88 million riyals, compared to 454.75 million riyals during the same period last year.
