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Spinneys posts record Q1 revenue as store expansion drives growth

UAE operations have remained the company’s core revenue engine, contributing Dhs864m in sales.

Gareth van Zyl
Gareth van Zyl

13 May, 2025

Spinneys posts record Q1 revenue as store expansion drives growth
A customer shops inside a Spinneys supermarket in Dubai. (Image credit: Getty Images)

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Retailer Spinneys has reported strong results for the first quarter of 2025, delivering a 11.3 per cent year-on-year rise in revenue to Dhs906.5m, up from Dhs815m in Q1 2024.

The group’s net profit for the period rose to Dhs85.2m, compared to Dhs74.7m a year earlier. Profit before tax jumped 23 per cent to Dhs101.9m, driven by revenue growth and operational efficiency gains.

UAE operations remained the core revenue engine, contributing Dhs864.2m in sales. Oman generated Dhs23.1m in revenue, while operations in Saudi Arabia and sourcing markets accounted for the rest. The UAE segment also delivered Dhs107.7m in profit before tax, underscoring its dominant role in the group’s earnings.

Spinneys saw a healthy uptick in gross profit, which climbed to Dhs374.7m in Q1 2025 from Dhs335.6m a year earlier. The group maintained robust cash generation, with net cash from operating activities reaching Dhs189.6m. This supported a 28 per cent increase in cash and cash equivalents, which stood at Dhs242.6m at the end of March.

“We have carried the momentum we built in 2024 into 2025, and this is evident in our Q1 results,” said Sunil Kumar, CEO of Spinneys.

“The continued execution of our growth strategy has again resulted in exceptionally strong financial performance.”

Kumar added that the opening of three new stores in Dubai during the quarter demonstrates “there is still a significant white space opportunity available to us, even where our footprint is strongest.”

The company declared a final dividend of Dhs100.8m for FY2024, approved in March and paid out in April 2025.

Selling, general and administrative (SG&A) expenses rose to Dhs198.6m, up from Dhs187.8m in Q1 2024, with higher premises and distribution costs contributing to the increase.

Meanwhile, the group booked a tax expense of Dhs16.7m — up from Dhs8m last year — as it factored in the UAE’s newly implemented 9 per cent corporate tax and a global minimum top-up tax of Dhs6.5m in line with OECD Pillar Two rules.

On the investment front, Spinneys spent Dhs21.7m on property, plant and equipment during the quarter, signalling ongoing expansion and modernisation. The retailer currently operates supermarkets in the UAE, Oman, and Saudi Arabia, with its DFM listing completed in May 2024 following an IPO of 900 million shares, amounting to 25 per cent of its share capital at the time.

Trump jets into Saudi, UAE and Qatar with trillion-dollar investment ambitions

Business leaders including Elon Musk, BlackRock CEO Larry Fink and Citigroup CEO Jane Fraser will also be on the trip

Reuters
Reuters

13 May, 2025

Trump jets into Saudi, UAE and Qatar with trillion-dollar investment ambitions
President Trump is traveling to Saudi Arabia, the first stop on his four-day Middle East visit and the first international trip of his second term. (Image credit: Getty Images)

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US President Donald Trump will arrive in Saudi Arabia today to kick off a four-day swing through the Gulf region.

With a who’s who of powerful American business leaders in tow, including Tesla CEO and Trump advisor Elon Musk, Trump will first visit Riyadh – where the Saudi-US Investment Forum is taking place – and continue to Qatar on Wednesday and the United Arab Emirates on Thursday.

Trump has also said he may travel on Thursday to Turkey for potential face-to-face talks between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky.

Trump’s second foreign trip since taking office again – his first was to Rome for Pope Francis’ funeral – comes during a moment of geopolitical tension. In addition to pressing for a settlement to the war in Ukraine, the Trump administration is pushing for a new aid mechanism for Gaza and urging Israeli Prime Minister Benjamin Netanyahu to agree a new ceasefire deal there.

Over the weekend, US and Iranian negotiators met in Oman to discuss a potential deal to curb Tehran’s nuclear program.

But – potential Turkey side trip aside – those matters are not the focus of Trump’s Middle East swing as it is currently scheduled.

The US, Saudi Arabia, Qatar and the UAE are expected to announce potentially trillions in investments. Saudi Arabia already committed in January to $600bn in investments in the US over the next four years, but Trump has said he will ask for a full trillion.

In addition to Musk, business leaders including BlackRock CEO Larry Fink and Citigroup CEO Jane Fraser will make the trip.

Secretary of State and National Security Advisor Marco Rubio and Secretary of Defense Pete Hegseth will travel with the president.

During the Riyadh stop, Trump is expected to offer Saudi Arabia an arms package worth well over $100bn, sources told Reuters, which could include a range of advanced weapons including C-130 transport aircraft.

Trump’s second and third stops – in Qatar and the UAE, respectively – are similarly expected to focus on economic issues.

Checked in and counted: Emirates reveals its massive daily baggage figures

Despite the complexity of its operations, Emirates has maintained a 99.9 per cent baggage handling success rate

Nida Sohail
Nida Sohail

12 May, 2025

Checked in and counted: Emirates reveals its massive daily baggage figures
Image credit: WAM/Website

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With global travel at an all-time high, Emirates has confirmed its busiest year yet for baggage handling.

According to a WAM report, between April 2024 and March 2025, Emirates handled more than 2.8 million bags each month — averaging 100,000 per day — across 140 global destinations from its Dubai hub.

Read-Flying high: Emirates staff to receive 22-week bonus after record profit

These figures represent a 3.7 per cent increase in total baggage volume compared to the previous year. Despite the complexity of its operations, Emirates has maintained a 99.9 per cent baggage handling success rate.

Emirates’ impressive performance

Emirates’ impressive performance places it among the top-performing airlines worldwide. At its Dubai hub, 99.9 per cent of all bags—whether originating from or transiting through Dubai—reach their destination on time. The airline’s baggage mishandling rate, defined as delayed, lost, or misplaced baggage, is exceptionally low at 1.4 per 1,000, nearly 30 times better than some other carriers.

Globally, when baggage is unavoidably delayed, 91 per cent of Emirates customers are reunited with their belongings within 72 hours. This is particularly notable since Emirates primarily manages international and transfer baggage, which often involves longer, more complex journeys than domestic travel.

Lost and Found operations

Emirates also excels in its Lost and Found operations. At its Dubai hub, 94 percent of valuable items—such as passports, wallets, and phones—are recovered and returned to customers within 60 minutes, thanks to a dedicated team. These items are typically found either on board Emirates aircraft or at Terminal 3 of Dubai International Airport (DXB).

Emirates Bag Connect

In 2024, the airline introduced Emirates Bag Connect, a feature available on the Emirates app and website. This tool offers customers real-time tracking of their baggage journey. An additional feature now allows tracking of mishandled baggage deliveries, available at 80 stations across Emirates’ network.

Dubai hub

At the Dubai hub, from the 2.8 million bags handled monthly, an average of 2,300 are found without baggage tags. Emirates and dnata teams proactively trace ownership, successfully reuniting about 80 percent of these bags with their flights before departure, ensuring minimal disruption to customers.

New golden visa alert: Sheikh Hamdan’s big move for Dubai Health staff

The directive coincides with International Nurses Day, observed annually on May 12

Nida Sohail
Nida Sohail

12 May, 2025

New golden visa alert: Sheikh Hamdan’s big move for Dubai Health staff
Image credit: Dubai Media Office/Website

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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, has issued directives to grant golden visas to nursing staff employed by Dubai Health who have served for more than 15 years.

Read-UAE’s new Blue Visa: Everything you need to know about it

The decision, announced in a Dubai Media Office report, recognises their invaluable contributions to the community and their vital role in enhancing the quality of healthcare services.

Sheikh Hamdan emphasised that nurses are at the forefront of the healthcare system and are essential partners in realising the vision of a healthier society and improved quality of life. He praised their daily dedication to patient care and their unwavering commitment to the well-being of others, affirming that Dubai values excellence and honours those who serve with devotion.

The directive coincides with International Nurses Day, observed annually on May 12, highlighting the leadership’s continued commitment to supporting healthcare professionals and creating an environment that empowers them to serve the community.

Evercoach’s Ajit Nawalkha on leadership, coaching and the power of inner clarity

Nalwalkha shares the mindset shifts shaping the coaching industry, what truly drives transformation, and why success must start from within

Neesha Salian
Neesha Salian

12 May, 2025

Evercoach’s Ajit Nawalkha on leadership, coaching and the power of inner clarity
Image: Supplied/ Rene Lutterus

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Ajit Nawalkha, co-founder of Mindvalley Coach and the person behind Evercoach, has helped train over 15,000 coaches across the globe — transforming how people define and pursue success.

From his early leadership days in AIESEC to launching transformative coaching programmes and preparing to host the ‘Limitless Immersion’ experience in Dubai, Nawalkha’s work is grounded in purpose, clarity and sustainable personal growth.

In this exclusive interview with Gulf Business, he shares the mindset shifts shaping the coaching industry, what truly drives transformation, and why success must start from within.

Your journey from AIESEC to becoming the face of Mindvalley Coach is inspiring. What early leadership lessons from AIESEC continue to guide you today in how you lead and coach others?

AIESEC is a student volunteer organisation that promotes world peace through understanding. It was also the place where I first discovered what it means to lead — not just manage. And those early lessons have never left me.

The first lesson I learned was that resources matter far less than resourcefulness. When I joined AIESEC, I led a small local chapter in a town with limited visibility and almost no legacy of success. We didn’t have the numbers, the budget, or the infrastructure. But what we had — or rather, what we built — was resourcefulness.

Under my leadership, we went from being one of the least-known chapters globally to becoming the number one local committee worldwide. That transformation didn’t happen because we had more. It happened because we used what we had better. I’ve carried that mindset into every business I’ve built. Tools and funding matter, but never more than creativity, initiative, and intelligent effort.

The second lesson was that leadership isn’t about time — it’s about intensity. In AIESEC, leadership roles turn over every year. You don’t get five years to find your voice. You get 12 months — sometimes less — to build trust, drive impact, and leave a legacy. That environment taught me how quickly leadership can be earned if you lead with clarity, conviction, and heart. It’s a lesson I bring into coaching every day: you don’t need more time to change your life — you need more intention.

Finally, AIESEC showed me the power of consistency over intensity. Many chapters operated in bursts — peaking in summer, fading in winter. We didn’t do that. We chose to be consistent all year round. That consistency — not short-term hype — created real, lasting success. I see the same pattern in coaching and entrepreneurship: the ones who win aren’t always the loudest or the fastest—they’re the ones who keep showing up.

In many ways, AIESEC didn’t just teach me how to lead; it shaped the entire foundation of how I coach, build, and serve.

What do you think makes a transformational coaching programme truly effective?

After working with over 15,000 coaches, I’ve found that true transformation follows structure. I call it the “6 Cs of Transformation”:

  1. Commitment – Creating a strong internal desire for change
  2. Clarity – Setting specific, embodied goals
  3. Courage – Inviting bold decisions
  4. Capability – Equipping clients with real skills
  5. Confidence – Building inner certainty through action
  6. Community – Offering accountability and support

Transformation doesn’t happen by chance — it’s built with intention and supported with the right structure.

In 2015, a personal crisis led you to pivot toward coaching. How did that reshape your understanding of success, and what do you tell others navigating burnout or disillusionment?

In 2015, I looked successful on paper — leading a Dhs100m company — but inside, I was in crisis. My marriage was ending, and I felt disconnected. That’s when I stopped chasing success and started defining it for myself.

Burnout isn’t just about hard work. It’s about spending your life doing things that no longer matter to you or doing what others expect. When someone feels burned out, I ask: Why are you doing what you’re doing — and what is it costing you?

The shift begins not with more effort, but more truth.

With programmes like the Certified Business Coach and Certified Life Coach reaching thousands, what trends are you seeing in the type of coaching people need today versus five years ago?

When we first launched these programmes five years ago, the world was in a very different place. We were navigating the collective uncertainty of Covid-19 lockdowns, isolation, and the emotional weight of an unpredictable future.

At that time, coaching was deeply rooted in personal resilience. People were asking questions like: How do I find mental peace? How do I stay connected in a disconnected world? Life coaching focused on helping individuals manage anxiety, regain inner balance, and rebuild emotional strength.

On the business side, the conversation was all about survival. Entrepreneurs were figuring out how to pivot, launch digital-first businesses, and access financial support to stay afloat. That period sparked a wave of entrepreneurship, but it also created a deep need for guidance — which is where business coaching began to thrive.

Fast forward to today, and the landscape has evolved significantly. Coaching has shifted from being a niche concept to a widely accepted solution. In the West, both life and business coaching are now mainstream. People actively seek out coaches not only during crises but also for growth, clarity, and performance.

We’re also starting to see this trend gain traction in the East, though the pace of adoption is unfolding differently.

Today, coaching is mainstream. People now seek it for growth, performance, and deeper alignment. Two major trends are shaping business coaching today:

  • The rise of AI and tech: Coaches are helping leaders adopt new tools and shift their mindset to stay relevant.
  • Generational change: Younger entrepreneurs are moving away from traditional business models toward impact, intellectual property, and innovation.

In life coaching, themes like mental wellbeing, career change, and relationship clarity are dominant. People want to feel whole, not just successful.

What mindset shifts do you instill in entrepreneurs aiming to build high-impact businesses?

The first shift is that success isn’t about working harder — it’s about thinking clearly. High-impact businesses aren’t built on more hustle, but on alignment between your offer, message, and identity.

Second, identity matters. I ask: Who do you need to become to lead the business you envision? Transformation starts by upgrading skills, habits, and beliefs.

Lastly, I teach the power of systems and simplicity. Most businesses fail not from lack of money but from founder fatigue. Simpler, smarter systems protect energy and focus.

For someone ready to transform their life, what one powerful practice would you recommend?

One of the most significant mindset shifts I teach is this: You don’t build a high-impact business by working harder; you build it by thinking clearly.

A lot of coaches and entrepreneurs come into this work overwhelmed. They believe success is just beyond more effort, more content, more clients, and more tools. While all of that helps at the beginning, it stops working when you’re trying to scale. High-impact businesses aren’t built through more work—they’re built through more alignment.

When your offer, message, and method of working align with who you truly are, you no longer have to fight for momentum. You create pull, not push.

The second major mindset shift is around identity. Most people try to build the business they want without becoming the person who can lead it. So I help them bridge that gap by asking: Who do you need to become to build the business you envision?
True transformation begins when you see clearly which skills, habits, and beliefs you need to upgrade.

Third, I emphasise the power of systems and simplicity. Businesses don’t fail because they run out of money — they fail because business owners run out of energy. Rene Lutterus They burn out doing the wrong things. They get exhausted running without the right systems — or without any systems at all.

Most of us are buried in noise. We listen to everyone around us — about everything. But the people who create the life they truly want are the ones who know what that life looks like. They’ve learned how to tune out the noise and tune into their signal.

In both business and life, we’re surrounded by a constant stream of opinions, strategies, trends, and expectations. Everyone’s telling you what you should do, how fast you should move, and what success is supposed to look like.

But noise doesn’t create clarity — it creates confusion, comparison, and burnout.

What does create transformation is your signal: that quiet, grounded voice inside you that actually knows what matters most.

Tune out the noise and listen to your own signal. We’re constantly told what success should look like, but clarity comes from within.

I recommend setting aside 15 minutes to answer:

  • Who am I beyond work and title?
  • What do I want beyond money and recognition?
  • What does my perfect day and life look like?

Clarity is your most underused advantage. Act from your signal, not the noise — and that’s where transformation begins.

Tell us about your upcoming programme in Dubai.

Limitless Immersion is a three-day live experience in Dubai from May 23-25 . It’s for entrepreneurs who feel stuck — not because of external strategy, but internal limitations.

This experience helps you confront the identity holding your business back and step into the version of yourself that’s ready for the next level. Most people try to scale by doing more. Limitless flips that — you scale by becoming more.

We help leaders recalibrate, shed old beliefs, and grow from the inside out. Because your business can only grow to the extent that you do.

UAE grants visa fine exemption to Sudanese nationals

The decision takes effect from May 19, 2025, and will remain valid until December 31

Gulf Business
Gulf Business

12 May, 2025

UAE grants visa fine exemption to Sudanese nationals

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The UAE has announced that Sudanese nationals residing in the country will be exempt from paying fines on expired residency and entry permits.

The move is aimed at easing pressures on individuals affected by Sudan’s ongoing crisis.

The decision, issued by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), takes effect from May 19, 2025, and will remain valid until December 31.

Sudanese nationals with pending fines are now able to regularise their status through the ICP’s official digital platforms.

The exemption comes as part of the UAE’s wider humanitarian efforts and its longstanding support for nations facing conflict or hardship. ICP said the move reflects the country’s values of tolerance, compassion, and solidarity with “brotherly” nations during exceptional circumstances.

“The initiative aligns with national efforts to strengthen social and humanitarian well-being for UAE residents,” the authority said in a statement.

Sudan has faced ongoing instability since conflict erupted in April 2023 between rival military factions, sparking a humanitarian crisis and displacing millions.

The UAE has been among the region’s most active contributors of humanitarian aid to Sudan, with previous efforts including airlifts of medical and food supplies, and the construction of a field hospital in Chad near the border.

Sudanese nationals in the UAE are encouraged to act within the amnesty window and submit renewal applications online to take advantage of the waived penalties.

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