Shatirah House Restaurant Company, also known as Burgerizzr, said full-year 2023 net profit soared to 12.28 million riyals ($3.27 million) in 2023 from SAR 2.69 million a year ago.

The profit was driven by a 12% rise in revenue due to an increase in same-store sales and guest numbers. The number of outlets fell to 102 by the end of 2023, compared to 105 in 2022, as five branches closed in this period while only two were added.

Gross profit increased by 24% year-on-year (YoY) mainly because of an average sales per branch increase and gross profit margin rising to 30% in the current year.

Total shareholders equity, less minority equity, grew 21% year-on-year to SAR 68.86 million.

(Editing by Brinda Darasha;