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00:00Tensions in the Middle East and the Middle East are overwhelming with American results for restaurants and that is from the first quarter of the current year.
00:10What is most prominent is the financial data for this quarter.
00:14First, net profits fell by 52% compared to the results of the quarter of 2023.
00:24So, the year has 28 million dollars compared to the profits achieved in the same period at 58 million dollars from the first quarter of 2023.
00:36But what about other wills that were greatly affected by the cuts and other reasons?
00:43We will discuss them later.
00:45With 16% the company's will was 494 million dollars compared to the will of 589 million dollars in the quarter of 2023.
01:01But what about the most prominent effects that affected the company's business results?
01:05First, the company was waiting to be cut due to geopolitical tensions in the region.
01:11This company has the right to specialize in a number of restaurants and international institutions.
01:17But there are other reasons that led to these sharp declines.
01:21We have increased costs related to the opening of new restaurants in various Arab regions.
01:29Another reason is that the first quarter of the current year coincided with the seasonal impact of the blessed month of Ramadan.
01:39But considering the impact of the results and the wills of each market,
01:43in the Saudi market, the wills were about 5% compared to 136 million dollars.
01:53In the UAE, one of the most important markets, the company's will was 6% compared to 170 million dollars.
02:01In other markets, in Kuwait, the company's will was 27% compared to 65 million dollars.
02:09In the Egyptian market, the company's will was 28% compared to 32 million dollars.
02:18But the company has a number of expectations and a number of ideas to reject the results in the next quarter.
02:25First, it is looking to open new restaurants in markets that are not greatly affected by geopolitical factors and cuts.
02:35It is preparing to open between 200 and 225 new restaurants.
02:41On the other hand, the company is trying to open on unconventional ideas by enhancing wills through smart pricing and targeted marketing.
02:51This is to improve profit margin in the year 2024 in total.
02:57So, the cut is equivalent to US profits for restaurants in the first quarter of 2024.