Abu Dhabi, UAE — Americana Restaurants International, the largest out-of-home dining and quick service restaurant operator in the Middle East and North Africa (MENA), posted a 19.4 percent increase in H1 net profit to US$144.8 million.
The company reported revenues of US$1.24 billion and adjusted EBITDA of US$291.7 million for H1 2023, delivering 7.8 and 7.7 percent growth respectively compared to the same period in 2022.
This has been supported by significant restaurant portfolio expansion, increased like-for-like sales and operating efficiencies, the company said.
In the second quarter of 2023, the company delivered 13.5 percent revenue growth compared to Q2 2022.
Net profit attributable to shareholders of the parent company for Q2 2023 was US$86.6 million, an increase of 16.7 percent after adjusting for the one-off tax payment of US$25.5 million to settle an indirect legacy tax charge in Egypt.
The company successfully opened 108 gross new stores during the first half of 2023, bringing its total restaurant count to 2,277 stores as of June 30, 2023.