Union Coop grew its nine-month net profit 7.3% to Dh243.3 million, up from Dh226.9 million a year earlier. Total income from operating activities rose 9.4% to Dh1.86 billion, profit before tax reached Dh268.6 million, up from Dh250.8 million, and earnings per share rose to Dh0.14 from Dh0.13.
Retail sales rose 6.7% to Dh1.48 billion, while e-commerce sales grew 40.6%. "The increase in e-commerce sales reflects the growing contribution of digital channels to our business," said Mohamed Al Hashemi, CEO of Union Coop.
The third quarter was stronger still. Net profit rose 30.7% to Dh69.6 million, the cooperative's 13th consecutive quarter of growth. Q3 income from operating activities rose 8.3% to Dh587.6 million, and revenue from the sale of goods rose 6.9% to Dh509.7 million.
The results come as Union Coop grows its organic range, which now covers 33 categories from 20 farm partners.
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