Dubai-based grocer Spinneys posted revenue of AED 2.74bn for the nine months to 30 September 2026, up 5.7% year-on-year, with profit after tax rising by the same rate to AED 224m.
Third-quarter profit climbed 18.6% to AED 49m on revenue of AED 831m, up 6.9%. Gross profit grew 4.6% to AED 1.13bn, though gross margin eased to 41.2% from 41.6%. Adjusted EBITDA edged up 1.8% to AED 512m at a narrower 18.7% margin. Like-for-like sales rose 3.3% and online sales surged 24.5%, lifting digital’s share of sales to 19.5%.
Transactions reached 32.1 million, with the average basket holding at AED 84. The chain runs 97 stores across the UAE, Oman and Saudi Arabia, including Waitrose outlets. It plans two more openings before year-end, and its first stores in Kuwait and the Philippines are due in Q1 2027, even with freight and supply chain disruption still weighing on the sector.
Gulf Economist Staff Writer