Spinneys reported a 2.5% rise in first-half profit to Dh175 million, driven by new store openings and online sales growth. The retailer approved an interim dividend of Dh122.4 million for shareholders, payable in September.
Our retelling · details in the original publication
Spinneys has released its financial results for the first half of the year, showing steady growth. Net profit increased by 2.5% to Dh175 million, while revenue rose by 5.1% to Dh1.91 billion compared to the previous year. This result reflects the business's resilience in current economic conditions.
The growth was driven by expansion and changing consumer habits. The company opened 11 new stores across the UAE during this period. There was also a notable increase in fresh food sales and online orders. Adjusted EBITDA reached Dh369 million, indicating efficient operational management.
The company is sharing its success with investors. The board approved an interim dividend of 3.40 fils per share. The total payout amounts to over Dh122 million, with funds expected to reach shareholders in early September. This is an important signal for the financial market regarding management's confidence in future prospects.
For UAE residents, this means continued expansion of convenient retail locations and service stability. Investors receive confirmation of the asset's reliability through regular dividend payments.
Check the original publication for detailed figures and strategy.
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