The Clap
AlAmar (6014) profits decreased by 26% during Q3 2022, in comparison to the same period in 2021.
The Deets
The company justified the decrease in its profits due to SAR 13.1 million in expenses recorded in the current quarter from the accounting treatment related to the employee stock program, in accordance with International Financial Reporting Standards (Standard 2).
So What
AlAmar is a leading Saudi company in the management and operation of quick-service restaurants in the Middle East, North Africa, and Pakistan.
It owns the exclusive franchise of “Domino’s Pizza” in 16 countries in the region, and “Dunkin’ Donuts” in Egypt and Morocco.
Now What
The company’s quarterly sales increased by 24.9% in comparison to Q3 2021.
