Latest news with #Dh258
Al Etihad
24-04-2025
- Business
- Al Etihad
Palms Sports reports Dh276m revenue in Q1 2025
24 Apr 2025 14:29 ABU DHABI (ALETIHAD) Palms Sports, the region's preeminent sports training provider, and a subsidiary of International Holding Company (IHC), reported Dh276 million in total revenue in the first quarter, reflecting a 7% increase from Dh258 million in Q1 Sports on Thursday announced its financial results for the first quarter of 2025, showcasing strong growth and consistent profitability across all key metrics. The growth underscores the company's continued momentum in driving demand for its training programmes, wellness, and competitive event programmes, a statement by the company posted on the Abu Dhabi Securities Exchange(ADX) website company also posted an operating profit of Dh34 million, up from Dh32 million in the same quarter last year. Net profit before tax rose to Dh20 million, up 18% from Dh17 million in Q1 2024. 'Our Q1 performance is a direct result of Palms Sports' strategic direction—investing in innovation, expanding our vertical capabilities, and acquiring key assets that strengthen our competitive advantage,' said Fouad Darwish, CEO and Managing Director of Palms Sports. 'These tactics not only enhance our core operations but also allow us to deliver broader value across education, community development, and elite sports.' The company's performance is driven by the ongoing expansion of its flagship programmes, along with a focus on scaling its operations and investments alike, reinforcing its prominent position in shaping the local and regional fitness and sports ecosystem, the statement said.
Khaleej Times
09-04-2025
- Business
- Khaleej Times
Dubai Duty Free sales top Dh2 billion in first quarter
Dubai Duty Free on Wednesday announced first-quarter sales of Dh2.06 billion ($565 million). The sales growth was largely driven by an exceptional February, which set a new sales record for the month of Dh709 million ($194 million). Perfumes, beverages, tobacco, gold and confectionery held the top five spots category-wise with perfume sales reaching Dh371 million and contributing 18 per cent of total revenue. Beverages followed with sales of Dh258 million, while tobacco increased by 11 per cent over the same period last year with sales amounting to Dh220 million. Gold increased marginally with sales amounting to Dh212 million, contributing 10 per cent of total revenue. Confectionery showed robust growth, taking the fifth spot for the first time with a 57 per cent increase over the same period last year, with sales reaching Dh207 million and contributing 10 per cent of total revenue. Looking ahead, Dubai Duty Free will continue to bolster its retail offering throughout 2025, which includes the opening of boutiques in Concourse A featuring luxury brands such as LV, Cartier and Chanel. The events calendar is also busy with upcoming events, including the Dubai Duty Free Spring Trials taking place at the Newbury Racecourse in the UK on 11th and 12th April, followed by the UAE Nationals Cup taking place at the Montgomerie Golf Club on May 3rd. 'We are very pleased with our sales for the first three months of the year, especially in February when daily sales reached an average of Dh25.3 million ($6.93 million) and kept pace with passenger growth. A lot of credit goes to our hard-working team of staff who achieve sales targets on an ongoing basis,' said Ramesh Cidambi, managing director of Dubai Duty Free. 'The remarkable success of the 'Dubai' chocolate offering has contributed significantly to the surge in the Confectionary category with specialty brands such as Fix Chocolate, Locali, I Love Dubai, Bateel and Al Nassma collectively generated sales of Dh80.4 million ($22 million). That figure represents over 1.2 million individual chocolate bars sold in the first quarter of 2025,' he added. In addition, recent renovations in the arrivals shops have led to sales hitting Dh125 million in the first quarter. 'We are very pleased with the newly renovated and refurbished retail shops in Terminals 1 and l 2 Arrivals with Terminal 3 Arrivals shop 4 due for completion next month. These enhancements are already elevating our arrivals business,' said Cidambi.
