Today's Edition
ABU DHABI (ALETIHAD)
Spinneys reported a net profit of Dh170 million for the first half of 2025, up 16.2% year-on-year, reflecting continued growth in like-for-like sales, increased online penetration, and the contribution of six new stores, which were opened during the period.
Revenue for the six-month period rose 13.7% to Dh1.8 billion, while profit before tax jumped 24.4% to Dh202 million. Adjusted EBITDA increased by 20% to Dh365 million, maintaining an industry-leading margin of 20.1%. Gross profit for the half stood at Dh753 million, up 14.2% from the prior year.
The company’s store network expansion strategy continued apace, with nine stores added across the UAE and Saudi Arabia over the past 12 months — including the recent launch of Spinneys Mina Port and The Kitchen by Spinneys in Wafi Mall. The total number of transactions grew 12.2% year-on-year to 20.6 million in H1, while average basket size remained stable at Dh88.
In the first quarter of 2025 alone, Spinneys posted revenue of Dh910 million, a 16.2% increase from Q1 2024. Quarterly profit rose 18.5% to Dh85 million, while adjusted EBITDA grew by 19.3% to Dh183 million.
CEO Sunil Kumar said the first-half performance “reflects the strength of the Spinneys brand and our continued focus on delivering fresh, high-quality food experiences to our customers across the region.”
“Strong like-for-like growth, the success of our Fresh and Private Label ranges, and the acceleration of our online and store expansion strategy have all contributed to robust top- and bottom-line results,” he added.
Kumar also highlighted the successful launch of “Discovery by Spinneys,” a new premium private label range that debuted with an exclusive Scottish strawberry variety. “This marks the beginning of a broader journey to bring exclusive, high-quality products to our customers,” he said.
Looking ahead, the company reaffirmed its full-year 2025 guidance, including the opening of 10–12 new stores across the UAE and Saudi Arabia and maintaining its strong adjusted EBITDA margin of 19–20%. An interim dividend of approximately Dh120 million was also approved for H1 2025, equivalent to 3.32 fils per share.
