AlAbraaj Restaurants Group reports profits

TDT | Manama

Email: mail@newsofbahrain.com

AlAbraaj Restaurants Group B.S.C. announced its financial results for the year ending December 31, 2024, highlighting significant milestones and sustainable growth. The year was marked by a successful Initial Public Offering (IPO) on the Bahrain Bourse, culminating a strong fiscal performance.

AlAbraaj reported Net Profit after Associated Company income BD 2,109,393 with an annual EPS of 23.03 Fils. AlAbraaj recorded an increase in sales to BD16,587,221, compared to BD16,213,449 in 2023, with Restaurants net profit rising to BD1,880,697 from BD1,875,096 in 2023. As of year-end, the group total equity stood at BD 15,066,381, while total assets reached BD 27,282,307, highlighting a solid financial position.

The Board of Directors have proposed, subject to approval of company’s shareholders in the upcoming AGM, a cash dividend distribution of BD 514,909 pertaining to Q4 2024 that is 4.72% of share nominal value, equivalent to 8% annualized dividend yield. These results reflect the resilience of the business model and the strength of the group’s brands despite challenges in the food service industry.

"The IPO was a landmark achievement, reinforcing our strategic positioning for future growth," stated Mr. Hamad Rashed Isa, Chairman of the Board. "With optimized expenses and a steadfast focus on operational excellence, we are well-placed to deliver sustained shareholder value. With the unwavering support of our stakeholders and the dedication of our talented team, we are confident in navigating future challenges and sustaining our industry-leading position.

In 2025, the group continues its growth trajectory, with plans to open three new outlets at prime locations in Bahrain at AlLiwan Hamala, City Centre Bahrain, and The Avenues Bahrain—and a wholly-owned subsidiary in Saudi Arabia, with a flagship restaurant anticipated in 2026. AlAbraaj Restaurants Group is also intensifying efforts to expand its franchise network regionally, projecting significant growth in this sector over the medium to long term.