MAIR Group PJSC (ADX: MAIR), a strategic investment company focused on grocery retail and commercial real estate in the UAE, announced its financial results for the nine-month period ended 30 September 2025.
Financial Highlights All figures are in AED million, unless otherwise stated. For the nine months ended 30 September 2025, Group revenue stood at AED 1.48 billion. Despite a 3.9% decrease compared to the same period in 2024, this was due to the completion of the ADCOOP rebranding and the retail portfolio's repositioning for sustainable growth. The 9M 2024 period benefited from a one-time gain from the disposal of non-core assets, partially offset by merger-related costs.
Statutory net profit for the period declined from AED 156.7 million in 9M 2024 to AED 105.9 million in 9M 2025. However, underlying net profit, which excludes one-off asset disposals and adjusts for merger costs, grew by 25%, reflecting continued operational improvements.
Transformation Continues The Group's retail arm, ADCOOP, reinforced its positioning through an exclusive partnership with the Department of Municipalities and Transport (DMT) to manage the Abu Dhabi Citizens’ Food Products Program. The Makani commercial real estate portfolio delivered AED 163.5 million in revenue during the same period, up 10% year-on-year, underpinned by a robust 93% occupancy rate across the Group's 70+ malls and community hubs.
Commenting on MAIR's nine-month results, Nehayan Hamad Alameri, Managing Director and Group CEO, MAIR Group, said:
"MAIR's transformation continues to build momentum, underpinned by disciplined execution and a clear strategic direction. Our exclusive strategic partnerships with the DMT and Al Jazira Sports Club represent key milestones in strengthening our retail platform and enhancing community access."
The Group continued to progress its transformation in the first nine months of 2025, achieving 25% year-on-year growth in underlying net profit. ADCOOP also expanded its private-label portfolio; launching two new brands and signing a memorandum of understanding (MoU) with Nutri Mark to promote product transparency and healthier choices, underscoring continued progress in building a stronger, customer-focused retail network.
Leveraging more than 50 stores and integration with the TAMM platform, the initiative enhances customer access and supports revenue growth during 2026 onwards as the program's operations fully ramp up. The retail segment contributed AED 1.26 billion, with like-for-like sales down 4% during the transition, and a reduction in lower-margin wholesale activity. This was driven by a combination of operating performance and lower finance costs.
