Mubasher: Americana Restaurants International recorded net profits valued at $77.72 million in the first half (H1) of 2024, an annual drop from $146.90 million.

The group, listed on the Abu Dhabi Securities Exchange (ADX) as well, posted 15.20% lower revenues at $1.05 billion in H1-24, compared to $1.24 billion in H1-23.

Basic and diluted earnings per share (EPS) fell by 44.80% to $0.009 as of 30 June 2024 from $0.017 a year earlier, according to the consolidated financial results.

Total assets amounted to $1.42 billion in H1-24, versus $1.55 billion at the end of December 2023.

Financials for Q2

In the second quarter (Q2) of 2024, the company registered $51.06 million in net profit, lower year-on-year (YoY) than $88.11 million.

Revenues shrank to $559.26 million in Q2-24 from $652.06 million in Q2-23, while the EPS plummeted to $0.006 from $0.010.

Quarterly, the Q2-24 net profits hiked from $28.02 million in Q1-24, while the revenues increased from $493.50 million.