Americana Restaurants posts $203.9mln net profit for 2021

Americana Restaurants posts $203.9mln net profit for 2021

Middle East restaurant operator Americana Restaurants International, which raised $1.8 billion from its initial public offering (IPO), reported on Friday a net profit of $203.9 million for the full year 2021, up from $80.8 million in 2020.

Revenue for the period was $2.05 billion compared with $1.57 billion in the year-ago period, the company said in a statement on the Abu Dhabi Securities Exchange (ADX), where its stock will be begin trading next Monday under the trading symbol (AMR).

The company recently set a revised timetable for its historic, first-of-its-kind concurrent dual listing on the ADX and the Saudi Stock Exchange.

In the IPO last month, Adeptio Investments, an investment vehicle jointly held by Saudi Arabia's Public Investment Fund (PIF) and Emaar Properties founder Mohammed Alabbar, sold 2.53 billion shares, representing 30% of the company.

(Writing by Brinda Darasha; editing by Cleofe Maceda)

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