Spinneys 1961 Holding PLC reported third-quarter revenue growth of 6.9% year over year to AED 831 million, while nine-month sales gains came alongside lower margins at the Gulf grocery operator.
The company’s Nov. 12 release put sales from January through September at AED 2.74 billion, compared with AED 2.593 billion in the corresponding 2025 period. Q3 revenue was AED 831 million, against AED 777 million in the 2025 quarter. Revenue in Q2 was AED 895 million, 1.6% below Q2 2025.
Nine-month profit after tax rose 5.7% to AED 224 million, and profit before tax increased 3.7% to AED 262 million. For Q3 alone, profit after tax climbed 18.6% to AED 49 million.
Comparable-store sales, or like-for-like sales, advanced 3.3% over the first nine months. Transactions increased 5.9% to 32.1 million, while the average basket stayed at AED 84. Online sales rose 24.5% year over year during the period and made up 19.5% of sales, up from 16.6% a year earlier.
Spinneys said comparable-store and online sales, along with nine stores added across the UAE and Saudi Arabia over the prior 12 months, supported the nine-month result. It also cited fresh food and private-label sales; those categories represented 65.7% and 47.6% of sales, respectively.
Gross profit increased 4.6% to AED 1.129 billion, but gross margin slipped to 41.2% from 41.6%. Adjusted EBITDA rose 1.8% to AED 512 million as its margin fell to 18.7% from 19.4%. The company said its sourcing network, production facilities and private-label products helped maintain availability during freight disruption, and that it was using alternative routes and sourcing arrangements.
CEO Sunil Kumar said, “More customers stayed in the country over the summer, which helped with sales.” The company reported opening two stores during Q3 and two afterward, at Peninsula Business Bay and City Tower in Dubai. It expects its first Kuwait and Philippines stores to open in the first quarter of 2027.
