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Burgerizzr logs 355.5% YoY higher profit in 2023

Burgerizzr logs 355.5% YoY higher profit in 2023
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-7.70% 9.23 -0.77

Riyadh – Mubasher: Shatirah House Restaurant Company (Burgerizzr) has achieved a 355.52% year-on-year (YoY) surge in net profit during 2023, recording SAR 12.28 million when compared to SAR 2.69 million.

The company’s revenues grew by 12.22% to SAR 281.05 million in 2023 from SAR 250.43 million in 2022, according to the annual financial results.

Burgerizzr ascribed the growth in its revenue to the increase in store sales and guest count.

Last year, the earnings per share (EPS) reached SAR 0.35, up from SAR 0.08 in 2022.

During the first nine months (9M) of 2023, Burgerizzr reported a net profit of SAR 7.31 million, signalling a yearly increase of 88.33% from SAR 3.88 million.

It is worth noting that the company’s board decided in October 2023 to transfer the listed shares from the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) to the main market All Share Index (TASI).