Latest news with #Ramadhan
BusinessToday
3 days ago
- Business
- BusinessToday
BAT Malaysia's 1Q PAT Drops 20%, Revenue Down To RM322 Million
For the quarter under review, BAT Malaysia recorded a revenue of RM322 million, 21.8% lower compared to the same period last year. While profit from operations declined by 15.7% to RM39 million, the Group's gross profit margin rose by 2.9%, supported by a more effective portfolio mix strategy. However, its profit after tax dropped from RM29 million to RM23 million, Despite the Group experiencing softened demand due to seasonality factors and the early start of the Ramadhan fasting period in 2025, which saw a 20.6% decline in the Group's volume, the Group's flagship brand, Dunhill grew its market share and continued to strengthen its leadership position. The Board of Directors has declared a first interim ordinary dividend of 7.5 sen per ordinary share amounting to RM21.5 million, payable on 3 July 2025 to shareholders. The group said that despite the challenging operating landscape, the Group's flagship brand, Dunhill, continued to demonstrate strength, recording a 0.7 percentage point growth in market share compared to the same period last year. Related
Observer
26-05-2025
- General
- Observer
Eid Al Adha likely on June 6
The main committee for sighting the crescent moon of the month of Dhul Hijjah 1446 AH will meet at the Ministry of Awqaf and Religious Affairs on Tuesday. Lunar experts and religious scholars will gather to observe the crescent moon, which will be visible for at least 20 to 29 minutes with the naked eye. Yousef bin Hamad al Rahbi, Director of the Astronomical Affairs Department at the Ministry of Awqaf and Religious Affairs, emphasised that astronomical calculations are crucial but must be confirmed by actual crescent moon sighting. The department highlighted the importance of crescent moon sighting in Islam, as it determines significant religious days such as the start and end of Ramadhan, Eid Al Fitr, Eid Al Adha, sacred months like Muharram and Dhul Hijjah. Eid Al Adha will begin on the tenth day of the month, following the day of Arafah on the 9th of Dhul Hijjah. Abdulwahab al Busaidy, an astronomer and member of Oman Astronomical Society, explained that the crescent moon will be visible at 07:02 in the morning, with the sun setting at 06:37 in Muscat. The crescent moon will set at 07:24, giving a 36-minute window for moon observation. "Accordingly, the crescent moon will be above the horizon by 8 degrees. In light of all this, we presume that the first day of the Dhul Hijjah will be Wednesday and the first day of Eid Al Adha will be on Friday June 6 for Oman and neighbouring countries as well," Al Busaidy said.
Observer
17-05-2025
- Business
- Observer
Lulu Retail reports $2.1 billion Q1 revenue
MUSCAT: Lulu Retail Holdings PLC ('Lulu' or the 'Company'), the largest and fastest growing pan GCC full line retailer, announced its financial results for the three-month period ended March 31,2025 ('Q1 2025'). KEY HIGHLIGHTS: • Q1 2025 revenue of $2.1 billion, up 7.3% YoY, with like-for-like sales up 3.6% YoY driven by strong sales during Ramadan period and volume growth in certain product categories • EBITDA of $214.1 million, up 6.4% YoY, with EBITDA margin of 10.3%, stable vs. Q1 2024 • Net profit of $69.7m, up 15.8% YoY, with net profit margin of 3.4%, up 25bps vs. Q1 2024 • Good strategic progress with five new stores opened in Q1 2025 including in Makkah and Madinah with the target for 20 new stores in 2025 unchanged • E-commerce sales grew strongly, up 25.3% YoY to $93.4 million; now 4.7% of retail revenue • Strong growth in revenue from Private Label products, up 9.5% YoY; 29.3% of retail revenue • Happiness loyalty program members reached c.6.3 million in Q1 vs. c.5.5 million in FY24; linked to 65% of sales Saifee Rupawala, Chief Executive Officer of Lulu, commented: 'We are pleased to have demonstrated good growth in the first quarter of this year, with revenue up 7.3% YoY. This was underpinned by a combination of like-for-like sales growth, supported by strong trading during the Ramadhan period, and our store rollout programme, which remains well on track with five stores opened in the quarter, in line with our plan to rollout a total of 20 stores in 2025. The first quarter also saw Lulu make good progress on delivering on our overall growth strategy, supported by robust sales in Private Label and e-commerce, which remain key components of our strategy.' 'Looking ahead, we expect our growth momentum to continue as we remain focused on several initiatives under each of our four key pillars, including driving growth in existing store network, opening new stores, driving operational efficiencies and delivering further upside through our private label and e-commerce offerings. Overall, we are pleased with the performance in the first quarter, marking a good start to 2025, and we look forward to continuing to deliver on our strategy throughout the rest of the year.' FINANCIAL SUMMARY Revenue grew a healthy 7.3% YoY to $2.1 billion in Q1 2025 driven by LFL sales growth of 3.6%, supported by strong trading during the Ramadan period. The good revenue performance was also driven by new store openings and high-volume growth across certain product categories, particularly in fresh food and lifestyle products. • Fresh food category revenue grew 7.9% YoY in the first quarter, driven by the Ramadan period, improved consumption trends. • Electrical goods category witnessed revenue growth of 29.0% YoY, mainly due to an increase in sales across higher value items. • Lifestyle products grew 6.9% YoY despite pressure as customers opted for more value products. • Consumer Packaged Goods (CPG) sales grew steadily at 1.4% YoY, with the sales increase mainly driven by strong volume growth, which was partly offset by some pricing pressure as a result of promotional campaigns. • E-commerce remains an important component of Lulu's growth strategy, with sales +25.3% YoY and customer count +26.1% YoY. Segment revenue performance driven by growth across all markets Lulu delivered revenue growth across all segments in Q1 2025, with particularly strong performances in KSA and Oman. • The UAE, Lulu's largest market, recorded a mid-single digit revenue increase of 5.2% YoY, led by particularly strong performance in the fresh food segment, which grew 15.6% YoY. This was further supported by strong e-commerce sales in the UAE which saw robust growth, rising 40.1% YoY, supported by an increase in sales through aggregators. • In the Kingdom of Saudi Arabia, revenue rose by 10.3% YoY, primarily driven by new store openings in last 12 months and strong LFL growth. Other key markets also delivered solid results in Q1 2025, with revenue in Oman increasing 7.8% YoY as a result of strong growth in the electrical goods product category, Qatar up 6.7% YoY following a good trading period during festive season, and Kuwait up 4.8% YoY, with supermarket sales contributing c.50% of overall growth in the region, further supported by a strong uptick in e-commerce sales. Profitability margins supported by cost efficiencies amidst promotional activity Gross profit increased 4.0% YoY to $464.5 million, with gross margins reaching 22.3% in the period, down 70 basis points compared to the prior year. This margin reduction was mainly due to promotional campaigns to drive higher footfall into Lulu stores during the festive period. EBITDA grew 6.4% YoY to $214.1 million, supported by improved operational cost efficiencies, which helped offset the lower gross margin. As a result, Q1 2025 EBITDA margin remained broadly stable at 10.3% compared to 10.4% in Q1 2024. On a post-lease expense basis, EBITDA margin improved by approximately 8 bps, reflecting Lulu's continued operational discipline. Net profit increased by 15.8% to $69.7 million, with net profit margins improving by 25 basis points as a result of stronger EBIT margin and lower interest expense, despite higher taxes in the period. Robust balance sheet During the quarter, net debt decreased to $2.3 billion, with net debt/EBITDA improved from 3.2x in December 2024 to 2.9x at the end of Q1 2025. Excluding lease liabilities, leverage improved from 1.3x to 0.9x over the same period. Strategic progress Lulu continues to make good progress on delivering on its growth strategy, having rolled out five new stores in the period, delivered good LFL growth within its existing stores and also benefitting from further upside opportunities across Private Label and e-commerce sales. During Q1 2025, Lulu opened two hypermarkets and three express stores, adding 22,339 sqm of retail space in the period, with the Company's total retail space up 2% to 1.34 million sqm, as at the end of Q1 2025. Within this, Lulu was pleased to open a 10k+ sqm hypermarket in Makkah and an express store in Madinah, two uniquely located stores with high footfall given the proximity to religious landmark cities in KSA. In addition to the two stores in KSA, Lulu also opened two express stores in the UAE, alongside a Hypermarket in Bahrain. Lulu remains on track with its store roll out plans, with the Company expending to open a total of 20 stores in 2025, with the remaining 15 stores expected to open over the course of the year. Lulu is also pleased to have signed a Memorandum of Understanding (MOU) with The Endowment and Minors Trust Foundation (Awqaf Dubai) for the development of a group of retail stores as part of Dubai's endowment projects. Under the partnership, Lulu will collaborate with Awqaf Dubai on upcoming community projects to develop shopping facilities that will better serve and enhance the retail experience of residents and visitors, while also contributing to Awqaf's broader social and economic objectives. Following the successful roll out of its loyalty program across all regions in 2024, Lulu's Happiness Loyalty programme continues to see good momentum in new members, having added c.904k new members in Q1 2025. Lulu now has a total of c.6.3 million loyalty members enrolled onto the program compared to the c.5.5 million at the end of 2024, with the loyalty program linked to c.65% of sales.
Biz Bahrain
14-05-2025
- Business
- Biz Bahrain
Gulf Hotels Group announces financial results for Q1 2025
Gulf Hotels Group, a hospitality pioneer in Bahrain, announced its financial results for the first quarter of 2025, reporting a net profit of BD2.452 million compared to BD2.663 million for the same period in 2024, a decrease of 8%. Earnings per share amounted to 11 fils compared to 12 fils in the first quarter of the previous year. Total comprehensive income reached BD2.542 million compared to BD2.382 million for the first quarter of the previous year, an increase of BD160,000 or 7%. Revenue for the first quarter stood at BD8.611 million compared to BD8.983 million for the same period last year, a decrease of BD373,000 or 4%. Total equity (excluding minority interests) as of 31 March 2025 was BD102.424 million compared to BD105.532 million as of 31 December 2024, a decrease of BD3.108 million or 3%. Total assets as of 31 March 2025 were BD113.786 million compared to BD112.862 million as of 31 December 2024, an increase of BD924,000 or 0.8%. Fawzi Kanoo, Chairman of the Board, commented on the results: 'The first quarter results reflect the strength and resilience of the Group's portfolio in facing seasonal challenges. We achieved a net profit of BD2.452 million compared to BD2.663 million for the same period in 2024, despite lower travel activity during Ramadhan, which impacted hotel occupancy rates. We are optimistic about the future of the hospitality sector in the Kingdom of Bahrain, supported by ongoing government initiatives aimed at developing the tourism sector. We will continue focusing on enhancing operational efficiency, investing in promising growth opportunities, and delivering sustainable, long-term value to our shareholders.' Ahmed Janahi, Group Chief Executive Officer, said: 'The Group maintained strong performance during the first quarter of 2025, reflecting the efficiency of our operations in the hotel and food and beverage sectors, despite the decline observed in the hospitality sector in Bahrain during the first quarter of 2025. Hotel occupancy rates fell by 4%, from 54.2% in the first quarter of 2024 to 52.1% in the same period this year. Revenue per available room (RevPAR) also dropped by 11.7%. This performance was mainly due to seasonal factors, particularly Ramadhan, which typically sees a decrease in travel activity and hotel occupancy. The tourism sector is expected to witness notable improvement in the second quarter, driven by major events such as the Formula 1 Grand Prix and Eid holidays, contributing to stronger performance across our business segments and supporting growth in the upcoming period. We have also made significant progress on several strategic initiatives this year, most notably the integration of Gulf Hotel into the Marriott Bonvoy loyalty programme of Marriott International, the development of exceptional dining experiences in the hospitality and restaurant sectors, and regional expansion. These efforts aim to support the Group's sustainable growth and enhance long-term returns for our shareholders.'
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![[Watch] Chicken Cutlet ‘Scam': All Breading, No Bird](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Ftherakyatpost.com.png&w=48&q=75){kind=small}
Rakyat Post
02-05-2025
- Entertainment
- Rakyat Post
[Watch] Chicken Cutlet ‘Scam': All Breading, No Bird
Subscribe to our FREE In what might be the most egregious case of food catfishing this year, a TikToker (@nikamirs) has exposed what could be the fast-food equivalent of a magic trick—but not the good kind. The viral video shows what appears to be a palm-sized chicken cutlet that promises satisfaction but delivers deception. The reality hit when he took that first fateful bite: beneath the golden, crispy exterior lurked a chicken portion so small it could pass for a single nugget. His female companion's cutlet suffered the same fate – a case of extreme false advertising where the actual meat made up less than a third of the total volume. From 'Oxygen Karipap' to 'Air Cutlet' The comment section exploded with a mix of sympathy and humour. It led to a heated debate about food vendor ethics and the age-old warning: looks can be deceiving. However, some breading enthusiasts came out of the woodwork to defend the ratio, claiming they actually prefer more coating than chicken. The incident has also drawn immediate comparisons to the 'karipap oksigen' phenomenon, where hollow curry puffs made with minimal filling became an unexpected hit. Some said karipap oksigen is gaining popularity, especially during food festivals and Ramadan bazaars, because it caters to those who prefer a lighter snack without the traditional fillings. Situasi yg tidak patut berlaku setiap kali bulan Ramadhan. 1- Jual juadah berbuka seawal pukul 11.30 pg 2- Jual karipap inti oksigen 3- Jemaah solat terawih hanya ramai seminggu pertama, pastu hanya tinggal 1 atau 2 saf saja Ada lagi? Sila tambah (gambar diambil dari Fesbuk) — Ahmad Harís 🇵🇸 (@ahmadhaaris1435) READ MORE : Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
