Boycott cuts Americana’s 2024 Q1 profits in Half ...Egypt

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Boycott cuts Americana’s 2024 Q1 profits in Half
source : EGYPT INDEPENDENT ( Egypt ) () 77
Americana Restaurants International PLC (“Americana Restaurants”) announced its financial results for the first quarter of 2024, highlighting a decline in profits due to boycotts but emphasizing the company’s continued financial resilience. The net profit attributable to shareholders of the parent company decreased by 51.8 percent to $28 million, compared to $58.1 million in the same period of 2023. Revenues declined by 16.3 percent to $493.5 million, compared to $589.4 million on an annual basis. Adjusted EBITDA stood at $103.3 million, maintaining a healthy margin of 20.9 percent against 21.5 percent year-on-year. The company’s cash position remained strong at $159.9 million. American

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