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Lulu Retail Holdings posted its Q3 net profit at $35.1 million, up 126% year-on-year (YoY).
The UAE-based hypermarket chain operator which earlier this month raised $1.72 billion in an IPO, reported a 6% YoY rise in revenue to $1.86 billion.
The “strong sales performance was driven by significant growth in key markets”, including UAE, Saudi Arabia and Kuwait with sales growth across key product categories, the ADX-listed company said.
EBITDA in Q3 2024 was at $176.3 million, up 9.9% YoY, with an EBITDA margin of 9.5%.
(Writing by Brinda Darasha; editing by Seban Scaria)
