Shatirah House Restaurant Co. (Burgerizzr) reported a net profit of SAR 3.3 million in H1 2023, an increase of 10% from SAR 3 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 120.84 | 131.98 | 9.2 % |
| Gross Income | 34.34 | 36.62 | 6.6 % |
| Operating Income | 4.66 | 5.54 | 19.1 % |
| Net Income | 2.98 | 3.26 | 9.6 % |
| Average Shares | 35.00 | 35.00 | - |
| EPS (Riyals) | 0.09 | 0.09 | 9.6 % |
Revenues rose 9.2% year-on-year (YoY) on an increase in same-store sales and guest count.
On the other hand, the number of branches went up to 103 at the end of the current period, compared to 101 a year earlier. Seven new branches were added, while five others had been closed since the end of the same period last year.
Gross profit was up 6.6% on higher average sales per branch. However, gross profit margin fell from 28.42% to 27.75% in H1 2023.
Depreciation, rent, utilities, and maintenance expenses rose in line with the increase in the number of branches.
Selling expenses leapt by 15.48% due to the increased contribution of online channels. Meanwhile, administrative expenses declined by 9.9%.
| Item | Q2 2022 | Q2 2023 | Change |
|---|
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 61.41 | 70.57 | 14.9 % |
| Gross Income | 14.36 | 22.26 | 55.1 % |
| Operating Income | (1.07) | 6.61 | 718.5 % |
| Net Income | (1.44) | 4.70 | 427.3 % |
| Average Shares | 35.00 | 35.00 | - |
| EPS (Riyals) | (0.04) | 0.13 | 427.3 % |
Total shareholders' equity, with no minority interest, reached SAR 60.27 billion at the end of the current period, up from SAR 58 billion a year earlier.
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