Spinneys reported a 13.7% year-on-year increase in revenue for the first half of 2025, reaching AED 1.8 billion (US$490 million), with six newly opened stores contributing significantly to the boost.
Alongside the expansion of its store footprint, Spinneys saw elevated fresh produce and private-label sales, robust like-for-like growth, and stronger online performance. These factors helped push profit before tax up by 24.4% to AED 202 million (US$55 million), and net profit by 16.2% to AED 170 million (US$46.3 million), even after factoring in a 6% top-up due to a 15% minimum tax.
Revenue growth was underpinned by a 12.1% rise in like-for-like sales and the addition of nine stores across the UAE and Saudi Arabia since July 2024. Fresh produce sales surged 64.3%, private-label offerings jumped 44.7%, increasing their penetration by 0.5% and 1.9%, respectively. Online sales penetration also climbed to 16.2% from 13.6% in H1 2024.
Spinneys CEO Sunil Kumar attributed the strong H1 2025 results to the brand’s strength and the success of its fresh offerings, private labels, and online and physical expansion strategies. He highlighted the launch of “Discovery by Spinneys,” a new premium private label range that has resonated well with customers. Looking ahead, Kumar emphasised plans to deepen market presence, continue expanding in Saudi Arabia, enhance efficiency, and create long-term stakeholder value.
Spinneys reaffirmed its optimistic outlook for the full year of 2025, aiming to open 10–12 additional stores across the UAE and Saudi Arabia. The retailer anticipates annual revenue growth of 9–11% and expects to sustain a leading adjusted EBITDA margin of around 19–20%.
