Americana opens 300 restaurants in 2023, to raise market share

Logo of Americana Restaurants International Plc

Americana Restaurants International PLC opened 300 new restaurants in 2023 (net new stores: 252) in line with its commitment to expand presence in the region.

In its 2023 financial statements, Americana said that it earmarked $167.9 million capital expenditures, or 7.0% of revenues, to support these openings. This expansion led the company’s restaurant portfolio to 2,435 stores.

Americana demonstrated financial and operating resilience amid market dynamics last year. It enhanced its position to achieve more growth going forward. The company continues to focus on expanding its presence and reach in the region by exploring strategic growth opportunities.

The company added that it will also focus on raising its portfolio share. It maintains its focus on innovation, digitization and customer centric initiatives to grow share of wallet and share of voice.

Americana posted a net profit of SAR 973 million in 2023, compared to SAR 972 million a year earlier. The fourth-quarter earnings reached SAR 123 million, Argaam reported.