[rtl]Americana International Restaurants considers Iraq an opportunity to expand its group[/rtl]
economy , 2023/05/04 16:37 , Number of readings: 243
economy , 2023/05/04 16:37 , Number of readings: 243
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[rtl]Baghdad-Iraq today:[/rtl]
[rtl]Profits of "Americana International Restaurants" declined by 19% in the first quarter of this year on an annual basis due to inflation of basic commodity prices and a decrease in sales in March due to the seasonal effect of the month of Ramadan, while it plans to expand in Saudi Arabia and enter the Iraqi market.[/rtl]
[rtl]The company said that “its revenues increased only by 2.1%, and attributed part of the limited growth to the depreciation of the currency in Egypt and Lebanon, expecting an improvement in overall profitability in the second half of 2023, with the gradual reduction of strategic stocks.”[/rtl]
[rtl]She added, "She believes that the Kingdom of Saudi Arabia represents an attractive opportunity to expand its group of restaurants, and that Iraq, in turn, represents an opportunity as a new region to establish its restaurants."[/rtl]
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