PHOTO
UAE’s Lulu Retail Holdings Plc posted Q1 2025 net profit of $69.7 million, 16% higher year-on-year (YoY), supported by growth in e-commerce sales in the UAE.
The result came above analysts’ mean estimate of $65 million, according to LSEG data.
Revenue for the quarter came to $2.1 billion, up 7.3% YoY, with like-for-like sales up 3.6% YoY driven by strong sales during Ramadan period, the Abu Dhabi ADX-listed supermarket operator said.
E-commerce sales grew 25.3% YoY to $93.4 million and accounted for 4.7% of retail revenue.
(Writing by Brinda Darasha; editing by Seban Scaria)
