Americana Restaurants International PLC’s net profit fell 45% to SAR 299.9 million in H1 2024, from SAR 542.9 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 4,655.57 | 3,947.87 | (15.2 %) |
| Gross Income | 2,419.50 | 2,082.40 | (13.9 %) |
| Operating Income | 610.55 | 333.28 | (45.4 %) |
| Net Income | 542.88 | 299.85 | (44.8 %) |
| Average Shares | 8,423.63 | 8,423.63 | - |
| EPS (Halala) | 6.44 | 3.56 | (44.8 %) |
The profit decline was attributed to lower sales because of the geopolitical situation and unfavorable currency impact in Egypt. The company also noted higher depreciation charges on account of new store openings during the period.
This was despite support from continued good level of stores, optimization of general and administrative costs, and enhanced sourcing efficiencies.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 2,445.23 | 2,097.23 | (14.2 %) |
| Gross Income | 1,292.49 | 1,129.13 | (12.6 %) |
| Operating Income | 361.27 | 216.66 | (40.0 %) |
| Net Income | 324.89 | 194.76 | (40.1 %) |
| Average Shares | 8,423.63 | 8,423.63 | - |
| EPS (Halala) | 3.86 | 2.31 | (40.1 %) |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 1,850.64 | 2,097.23 | 13.3 % |
| Gross Income | 953.28 | 1,129.13 | 18.4 % |
| Operating Income | 127.86 | 216.66 | 69.5 % |
| Net Income | 105.09 | 194.76 | 85.3 % |
| Average Shares | 8,423.63 | 8,423.63 | - |
| EPS (Halala) | 1.25 | 2.31 | 85.3 % |
The second-quarter net profit dropped 40% to SAR 194.8 million from SAR 324.9 million in Q2 2023.
Americana’s net profit jumped 85.3% from SAR 105.09 million in Q1 2024, as sales improved.
Total shareholders’ equity, excluding minority interest, increased to SAR 1.25 billion as of June 30, 2024, from SAR 1.22 billion in the earlier-year period.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SADAFCO | 128.83 | 127.79 | (0.8 %) |
| UACC | 16.49 | 15.58 | (5.5 %) |
| MODERN MILLS | 48.53 | 44.51 | (8.3 %) |
| AMERICANA | 218.71 | 194.76 | (11.0 %) |
| Leejam Sports | 89.26 | 73.00 | (18.2 %) |
| SAUDI CERAMICS | 13.00 | (10.82) | (183.2 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| BUPA ARABIA | 384.25 | 404.60 | 5.3 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI CERAMICS | 13.00 | (10.82) | (183.2 %) |
| Leejam Sports | 89.26 | 73.00 | (18.2 %) |
| AMERICANA | 218.71 | 194.76 | (11.0 %) |
| MODERN MILLS | 48.53 | 44.51 | (8.3 %) |
| UACC | 16.49 | 15.58 | (5.5 %) |
| SADAFCO | 128.83 | 127.79 | (0.8 %) |
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