Americana Q3 profit falls 54.3%

Americana Restaurants reported a 54.3 per cent decline in Q3 2024 net profit, falling to SAR140.3 million, as revenue dropped 15.3 per cent.

The decrease in revenue was largely due to a fall in like-for-like sales impacted by geopolitical tensions and weaker consumer demand in key markets. Higher depreciation costs and the introduction of corporate tax in the UAE further impacted profitability.

Attribution: Tadawul