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Burgerizzr's net profits soar 88% in 9M-23

Burgerizzr's net profits soar 88% in 9M-23
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-7.70% 9.23 -0.77

Riyadh – Mubasher: Shatirah House Restaurant Company (Burgerizzr) reported net profits of SAR 7.31 million in the first nine months (9M) of 2023, a yearly increase of 88.33% from SAR 3.88 million.

Revenues increased by 8.21% to SAR 204.32 million in 9M-23 from SAR 188.81 million in 9M-22.

Earnings per share (EPS) reached SAR 0.21 as of 30 September 2023, higher year-on-year (YoY) from SAR 0.11, according to the preliminary financial results.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi firm recorded a 346.38% YoY increase in net profit to SAR 4.05 million, compared to SAR 908,531.

Revenues rose by 6.44% YoY to SAR 72.34 million in Q3-23 from SAR 67.96 million.

On a quarterly basis, the Q3-23 net profits declined by 13.71% from the SAR 4.70 million registered in Q2-23, while the revenues rose by 2.51% from SAR 70.57 million.

In October 2023, Burgerizzr's board members approved transferring the firm's shares from the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) to TASI, the main market index.