Americana Restaurants International Plc, the franchisee of several fast-food restaurant chains like KFC and Pizza Hut across the Middle East and North Africa (MENA) region, said Thursday its first-quarter profit fell by 19.3% to $58.8 million, from $72.9 million for the same period a year ago.
The group, which operates 2,228 restaurants under 12 brands, said its revenue for the quarter ended March 2023 rose by 2% year-on-year to $589.4 million, according to a stock market filing Thursday.
The Saudi-based restaurant group also said its operating profit for the quarter was down to $66.1 million, down from $82.1 million for the same period a year ago.
The company has an asset base of $1.4 billion by the end of March 2023, against $1.3 billion for the year-ago period.
Americana operates restaurants for several global brands, including Pizza Hut, Hardee’s, Krispy Kreme, TGI Friday, and KFC, across the MENA region and Kazakhstan.
The company launched Peet’s Coffee in Dubai in the first quarter of 2023, marking its entry into the coffee segment in the Gulf region.
