Americana Restaurants Reports 27% Increase In Net Profit On New Store Openings In FY2022
Americana Restaurants International which is a middle Eastern restaurant operator raised $1.8 billion from its initial public offering last year.
Now they are again in news lines, after the Tuesday forecast for this a 2021 net profit of $972.1 million, up 27% from $764.6 million.
In the previous year, the revenue for the period was $7.69 billion but for now, the revenue for the period was $8.92 billion. The company said this in a statement on the Saudi Stock Exchange, where its stock is cross-listed.
In the year of 1964, the Americana was founded in Kuwait. It introduced fast-food restaurants in the region in the year 1970.
Previously it traded with Kuwait Stock Exchange but its shares in 2017 were removed.
Across 12 countries and the Mena region and Kazakhstan it had the largest out-of-home dining operator, let me tell you Pizza Hut and KFC are also part of its chain.
Now the company wants to maintain a “robust dividend policy” and make a slight distribution of approximately 75% of the parent company’s net profit for the second half of 2022.
Americana intends to adhere to aiming and an annual dividend distribution policy and plans to distribute at least 50% of its profits in dividends.