AmRest 2017 net profit slightly down

WSE-listed restaurant operator AmRest posted a PLN 182.28 million consolidated net profit in 2017, down from PLN 190.56 million in 2016. Revenues amounted to PLN 5.26 billion, up from PLN 4.2 billion in the previous year. “Favorable consumer trends, strong position of our brands, dynamic organic growth and high activity in the area of M&A allowed us to increase group revenues by 25 percent in 2017 and strengthen margins on most major markets. Our core business (excluding the impact of M&A transactions) once again achieved a 20 percent increase in profitability at the EBITDA level, putting us at the forefront of dynamically growing restaurant companies in Europe. Taking care of sustainable development, last year we consistently implemented the strategy of doubling the size of the business in three years, based on three main pillars: dynamic growth of the base business, acquisitions, and investments in the digital platform,” company’s management said in its financial report. AmRest added that last year it opened 210 new outlets, compared with 146 in 2016.