Americana Restaurants Intl. Announces 40% Decline in Profits
The decline in profits has been attributed by Americana to “ongoing geopolitical tensions” as well as “lowered sales.”
Americana Restaurants International, the largest operator of fast food restaurants in the Middle East and North Africa, has announced that their profits have experienced a 40% decline during the second quarter of 2024. According to the announcement, the decline in profits has been attributed to “geopolitical tensions” and “lowered sales.”
The company has been the target of an organised boycott in support of Palestinian resistance against the ongoing genocide by Israel.
Profits were reported to have dropped by 45% to $80 million in the first half of 2024, and by 40% to $52 million in the second quarter of 2024. The decrease in sales comes despite the opening of 81 new restaurants by the franchise.
Americana Restaurants International operates a number of food production companies like Americana, as well as restaurants such as KFC, Krispy Kreme, Pizza Hut and Wimpy. Previously a Kuwaiti company, Americana is now owned by Emirati businessman Mohamed Alabbar.
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Nov 04,2024
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