Dubai retailer Spinneys' share price makes solid comeback

On DFM, Spinneys' share again zooms past listing price of Dh1.53

Last updated: August 08, 2025 | 11:45

Manoj Nair, Business Editor

2 MIN READ

Spinneys' fresh and private label categories are ramping up sales - and helping with margins. Shareholders are liking what they are seeing in the latest H1-2025 numbers.

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Dubai: The share price of Spinneys, the Dubai grocer, has once again risen above its DFM listing price of Dh1.53. The new wind in the Spinney's share comes after the retailer posted solid H1-2025 financials, including seeing steady gains from its recent expansion in Saudi Arabia.

The stock is trading at Dh1.59 after having hit Dh1.62. Spinneys' has gained 8.9% in the last month. (The company made its debut on DFM in May 2024, after raising Dh1.37 billion through the stock float. It was among the first lot of privately entities that made the transformation to being a public limited company in the UAE.)

The company's stock had been under the IPO price of Dh1.53 for much of the recent past and it's been over the last month or so that it started to pick up serious traction.

On the first of listing, Spinneys had closed at Dh1.66.

Also Read: Dubai grocer Spinneys to pay Dh120m as H1-2025 interim dividend

"Spinneys' stellar H1-25 performance has led to investor recognition in terms of its value, now trading at above its IPO price," said Sameer Lakhani, Managing Director of Global Capital Partners.

"With an aggressive store expansion program in place - along with its private label business for margin expansion gaining traction, investors have recognized the proactive approach and adding Spinneys to their capital portfolios."

Spinneys' private label business brings higher margins

It was recently that the premium private label operations - 'Discovery by Spinneys' - was launched and then started to build sufficient shopper backing. (Private labels have been hugely integral to the businesses of leading US and UK supermarket retailers, especially when it comes to generating higher margins.)

Add to that the nine new stores Spinneys opened in the first-half of 2025, and that helped create revenues of Dh1.8 billion. Most important is the gross profit margin of 41.5%, compared to 41.3% in 2024.

"Spinneys has also demonstrated to investors that in the end superior performance will be recognized by fast maturing markets," said Lakhani. "This trend is expected to continue."

It remains to be seen whether shares of some of the other recent UAE private enterprises that listed will pick up over and above their IPO prices.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.