Spinneys Q1 Profit Rises 14% as Expansion Plans Accelerate
Strong Profit Growth in Q1 2025
Spinneys reported a 14% rise in net profit for Q1 2025, reaching AED 85 million. This marks a strong start to the year for the Dubai-based supermarket operator. The company attributes the growth to new store openings and increasing online sales. Spinneys continues to gain momentum after its 2024 IPO on the Dubai Financial Market.
Revenue Grows on Higher Sales and New Stores
Quarterly revenue rose over 11% year-on-year, reaching AED 906 million in Q1 2025. Three new stores helped drive growth, alongside a surge in digital and online orders. The company maintains strong performance across its retail network in the UAE.
Aggressive Expansion Plans for 2025
Spinneys plans to open 10 to 12 new stores in the UAE and Saudi Arabia this year. This expansion supports its target of 9–11% revenue growth for the full year. The company expects 4–6% like-for-like sales growth to further boost revenues. Spinneys aims to increase its presence in key regional markets through strategic openings.
IPO Boosts Growth Strategy
Supermarket listed on the Dubai Financial Market in 2024, strengthening its capital position. The IPO has enabled investments in infrastructure, technology, and store expansion projects. With strong financial backing, Spinneys can act quickly on new growth opportunities.
Focus on Digital and Customer Experience
Online sales continue to grow, supporting overall revenue and customer engagement. Spinneys invests in digital platforms to improve convenience and expand market reach. Customer satisfaction and loyalty remain core to its retail strategy.
Outlook for the Remainder of 2025
Spinneys remains optimistic about demand and market conditions in the UAE and Saudi Arabia. Management expects consistent growth supported by expansion and strong consumer spending trends.
Spinneys stays focused on efficiency, customer service, and store performance. The company’s strategy aligns with long-term growth targets and regional market leadership.