Spinneys reports nine-month revenue of AED 2.7 billion and profit after tax of AED 224 million, with online sales up 24.5% and new Dubai stores open.
Spinneys 1961 Holding PLC, listed on the Dubai Financial Market (DFM), said on Thursday that nine-month profit after tax rose 5.7% to AED 224 million, on revenue of AED 2.7 billion, up 5.7%, for the period ended September 30.
Third-quarter revenue was AED 831 million, against AED 777 million in the same quarter of 2025, an increase of 6.9%, according to the company’s results announcement.
The retailer said that followed a 1.6% fall in revenue in the second quarter of 2026. Nine-month revenue was AED 2,740 million, compared with AED 2,593 million a year earlier.
Gross profit for the nine months rose 4.6% to AED 1,129 million. The gross margin was 41.2%, against 41.6% in the first nine months of 2025.
Adjusted EBITDA increased 1.8% to AED 512 million, but the margin fell to 18.7% from 19.4%. Spinneys said this came despite an inflationary environment.
Profit before tax grew 3.7% to AED 262 million, a margin of 9.6%. Profit after tax carried a margin of 8.2%.
In the third quarter alone, profit before tax was AED 59 million, up from AED 50 million, and profit after tax was AED 49 million, up from AED 41 million.
Spinneys said growth came from like-for-like sales up 3.3% and nine new stores opened in the UAE and Saudi Arabia since October 2025.
Transactions rose 5.9% to 32.1 million over the nine months. The average basket was stable at AED 84.
Online sales grew 24.5% year-on-year, and online participation reached 19.5%, up from 16.6% a year earlier. The company said it sells through its own platforms and third-party delivery partners.
Fresh products accounted for 65.7% of sales and private label for 47.6%, with penetration up 140 basis points and 230 basis points respectively.
Chief executive officer Sunil Kumar said more customers stayed in the country over the summer, which helped sales. “We’ve come through a challenging period, and it has put our business to the test,” he said.
Spinneys said its direct sourcing, owned production facilities and private label ranges helped keep products available despite a complex freight environment. It said it is building alternative freight routes and sourcing arrangements into its supply chain permanently.
Two stores opened during the quarter. Two more have opened since the quarter ended, at Peninsula Business Bay and City Tower on Sheikh Zayed Road, both in Dubai.
Kumar said two further stores are planned before the end of 2026. The company expects its first stores in Kuwait and the Philippines to open in the first quarter of 2027.
Spinneys operates 97 stores across the UAE, Oman and Saudi Arabia, of which 84 are owned and 13 are operated, including Waitrose. The first Spinneys grocery store opened in Al Nasr Square, Dubai, in 1961.
