Burriszer profits fell to 8.44 million riyals in 2024

The profits of the Shattira House of Satellite Restaurants Company “Bergariszer” in 2024 decreased by 31.3% to 8.445 million riyals, compared to 12.285 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, a net profit decrease is due to the following factors:
Total profit: increased by 7.3%, due significantly to the average branch sales.
Sales expenses: increased by 4.4 million riyals (10%), due primarily due to the high delivery costs, mainly due to the increase in delivery fees resulting from increasing contribution to electronic sales channels, including delivery applications.
Administrative expenses: increased by 6.7 million riyals (26.9%), due primarily due to unexpected costs related to the transition from a growth market to the main market, as well as high expenses related to employees and other costs in line with business growth.
Other: The financing costs increased by 192 thousand riyals, and the loss resulting from deleting property and equipment decreased by 460 thousand riyals, and other revenues increased by 586 thousand riyals.
The Board of Directors of the Bayt Al -Shatira Restaurant Company for fast food “Burghraiszer” for the unusual general assembly of the company recommended an increase of capital by 60 % by granting free shares to the company’s shareholders with a fee of 21 million riyals of the remaining profits. Each shareholder will be granted 3 grants per 5 owned shares.
The capital before the increase is 35 million riyals, while the increase is 56 million riyals, while the number of shares before the increase is 35 million shares, and after the increase of 56 million shares.
She explained that the reasons for the increase: keeping pace with the company’s growth, expanding its business and strengthening its financial position, while the increase will be through the formal of 21 million riyals of the remaining profits.
She stated that the history of the right to shareholders ownership of shares at the end of the trading of the company’s extraordinary general assembly day (which will be determined later) and the registration in the company’s shareholders’ record with the Securities Depository Center Company (the deposit center) at the end of the second trading day that follows the date of the extraordinary general assembly.
In the event of stock fractures, fractures are collected in one portfolio for all shareholders to be sold at the market price, then the amount is distributed among the shareholders due to proportion according to the percentage of ownership within a period not exceeding 30 days from the date of determining the shares due for each shareholder.
The grant is considered conditional on the approval of the competent official authorities and the unusual general assembly to increase the capital and the number of shares granted.