LuLu Retail books high Q1 profits boosted by Ramadan demand

UAE HYPERMARKET OPERATOR IS EYEING 20 NEW LOCATIONS IN 2025

- BY MANOJ NAIR

LuLu Retail will be looking to impress investors after hitting a smart 15.8 per cent growth in Q1-2025 net profit to $69.7 million. Also, its profit margin has improved during the period, by 25 basis points to 3.4 per cent.

Revenues came to $2.1 billion, up 7.3 per cent, and vastly helped by sales increases during Ramadan in March. The revenue and profit gains were 'underpinned by a combination of like-for-like sales growth, supported by strong trading during the Ramadan period', said Saifee Rupawala, CEO of LuLu.