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8/9/24, 1:35 PM Spinneys announces first post-IPO dividend of Dh102.6m after record H1-2024 revenues | Markets – Gulf News

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Spinneys announces first post-IPO dividend of

Dh102.6m after record H1-2024 revenues

Dubai retailer announces

Published: August 08, 2024 09:11
Manoj Nair, Business Editor

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Spinneys announces first post-IPO dividend of Dh102.6m after record H1-2024 revenues

Apart from its extensive network in Dubai, Spinneys is gradually extending its footing to Saudi Arabia.
Image Credit: Supplied
Dubai: Spinneys' shareholders will receive their first post-IPO interim dividend of Dh102.6 million - or 2.85 fils a share -

this month. is was confirmed after the DFM-listed retailer announced first six month 2024 revenues of Dh1.6 billion, up

9.9 per cent, and profit of Dh146 million, higher by 15.2 per cent.

grocer points to the profit growth coming 'despite impact of 9 per cent UAE corporate tax'. It will also be pleased with

the 22 per cent increase in sales volumes to Dh217 million brought in via the ecommerce channel. ese account for 14 per

cent of the group's H1-2024 sales.

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