Americana Restaurants International, the largest operator of out-of-home dining and quick-service restaurants in MENA and Kazakhstan, reported a 44.8% drop in net profit to $80 million for the first half of the year, with revenues falling 15.2% to $1.05 billion. The decline in revenue was attributed to lower like-for-like sales due to ongoing regional geopolitical issues, despite some support from new store openings. The drop in net profit was influenced by reduced sales and increased depreciation charges from new store openings.

In Q2 2024, revenue declined 14.2% compared to the same period in 2023 but saw a 13.3% increase from Q1 2024, aided by a market recovery, fewer Ramadan days, and both Eid events falling in the second quarter. Net profit in Q2 fell 40.1% year-over-year but rose 85.3% from Q1 2024. The company's gross margins improved in Q2 2024, driven by favorable commodity prices and strategic procurement and revenue management initiatives. Americana expanded its network with 81 new stores in the first half of 2024, bringing its total count to 2,477 as of June 30, 2024. The company plans to continue its expansion with a cautious approach, expecting to add 175-185 net new restaurants in 2024, while focusing on revenue recovery strategies and optimizing store-level and G&A platforms.