Gourmet Egypt posted a steep rise in earnings for 2025, with consolidated net profit attributable to the parent company reaching EGP 211.202 million, up 56.4 per cent from EGP 135.031 million a year earlier, according to financial statements filed to the Egyptian Exchange on 31 March. Revenue climbed to EGP 2.877 billion from EGP 2.117 billion, underscoring how the premium food retailer has extended growth beyond its market debut earlier this year.
The figures arrive less than two months after Gourmet began trading on the Egyptian Exchange, where it listed under the ticker GOUR. CA following an offering of 190.5 million shares, equal to about 47.6 per cent of its capital, at EGP 6.90 apiece. The flotation raised roughly EGP 1.31 billion and valued the company at about EGP 2.76 billion, making it the first listing on the bourse in 2026 and one of the more closely watched consumer stories in Egypt’s equity market.
That performance is likely to draw investor attention because it suggests Gourmet has managed to convert a premium brand position into stronger margins and scale at a time when Egypt’s wider consumer economy remains uneven. Egypt’s annual urban headline inflation accelerated to 13.4 per cent in February from 11.9 per cent in January, while policymakers have also been contending with higher energy import costs and pressure on household budgets. Against that backdrop, a sharp increase in profit at a food retailer serving middle- and upper-income customers points to resilience in affluent spending pockets even as the broader retail market stays under strain.
Gourmet’s business model has helped set it apart from traditional grocers. Founded in 2006, the company operates 21 stores across Greater Cairo, Alexandria, El Gouna and seasonal North Coast locations, while also running e-commerce and delivery channels. Through its wholly owned subsidiary Gourmet Food Solutions, it has built in-house manufacturing capacity that includes multiple specialised kitchens and processing units, allowing it to push higher-value prepared and private-label offerings. Company materials linked to the IPO said about 35 per cent of sales in 2024 came through delivery, with the remainder generated from walk-in shoppers.
That level of vertical integration matters in Egypt, where imported food inputs, currency volatility and supply chain friction have weighed on operators across the consumer sector over the past few years. By manufacturing part of its own range and leaning on branded fresh and ready-to-eat products, Gourmet has had greater room to defend margins than businesses competing mainly on commoditised staples. Its expansion strategy has also been pitched as a blend of physical retail, home delivery and food production rather than a straightforward store rollout.
The market had some warning that 2025 would be strong. During the IPO process, Gourmet reported that revenue for the first nine months of 2025 had reached EGP 2.085 billion, up 39.6 per cent from the same period of 2024, while adjusted EBITDA rose to EGP 281 million. Full-year numbers released this week show that momentum held through the end of December and translated into a much stronger bottom line than the one investors were using when the offering was marketed in January.
The company’s leadership has framed the public listing as a platform for a new growth phase. Board disclosures identify Michael Wright as chairman and Shady Abou Saad as managing director, while B Investments remains a key shareholder after the offering. Post-listing reports indicate B Investments retained a 40 per cent stake, preserving a large strategic interest while broadening the shareholder base. For investors, that ownership structure can be read two ways: it offers continuity and sponsor backing, but it also keeps close watch on whether execution remains tied to a concentrated control group.
Broader sector signals are mixed. Research on grocery retail in the region suggests Egypt’s formal grocery market has faced sluggish growth and declining store-level sales even as new outlets keep opening. At the same time, digital grocery and delivery channels continue to gain ground, and premium convenience formats remain attractive in dense urban areas where time-poor consumers are willing to pay for assortment, quality and doorstep service. Gourmet appears to be positioned squarely at that intersection, though maintaining growth from here may be harder than posting it.
The figures arrive less than two months after Gourmet began trading on the Egyptian Exchange, where it listed under the ticker GOUR. CA following an offering of 190.5 million shares, equal to about 47.6 per cent of its capital, at EGP 6.90 apiece. The flotation raised roughly EGP 1.31 billion and valued the company at about EGP 2.76 billion, making it the first listing on the bourse in 2026 and one of the more closely watched consumer stories in Egypt’s equity market.
That performance is likely to draw investor attention because it suggests Gourmet has managed to convert a premium brand position into stronger margins and scale at a time when Egypt’s wider consumer economy remains uneven. Egypt’s annual urban headline inflation accelerated to 13.4 per cent in February from 11.9 per cent in January, while policymakers have also been contending with higher energy import costs and pressure on household budgets. Against that backdrop, a sharp increase in profit at a food retailer serving middle- and upper-income customers points to resilience in affluent spending pockets even as the broader retail market stays under strain.
Gourmet’s business model has helped set it apart from traditional grocers. Founded in 2006, the company operates 21 stores across Greater Cairo, Alexandria, El Gouna and seasonal North Coast locations, while also running e-commerce and delivery channels. Through its wholly owned subsidiary Gourmet Food Solutions, it has built in-house manufacturing capacity that includes multiple specialised kitchens and processing units, allowing it to push higher-value prepared and private-label offerings. Company materials linked to the IPO said about 35 per cent of sales in 2024 came through delivery, with the remainder generated from walk-in shoppers.
That level of vertical integration matters in Egypt, where imported food inputs, currency volatility and supply chain friction have weighed on operators across the consumer sector over the past few years. By manufacturing part of its own range and leaning on branded fresh and ready-to-eat products, Gourmet has had greater room to defend margins than businesses competing mainly on commoditised staples. Its expansion strategy has also been pitched as a blend of physical retail, home delivery and food production rather than a straightforward store rollout.
The market had some warning that 2025 would be strong. During the IPO process, Gourmet reported that revenue for the first nine months of 2025 had reached EGP 2.085 billion, up 39.6 per cent from the same period of 2024, while adjusted EBITDA rose to EGP 281 million. Full-year numbers released this week show that momentum held through the end of December and translated into a much stronger bottom line than the one investors were using when the offering was marketed in January.
The company’s leadership has framed the public listing as a platform for a new growth phase. Board disclosures identify Michael Wright as chairman and Shady Abou Saad as managing director, while B Investments remains a key shareholder after the offering. Post-listing reports indicate B Investments retained a 40 per cent stake, preserving a large strategic interest while broadening the shareholder base. For investors, that ownership structure can be read two ways: it offers continuity and sponsor backing, but it also keeps close watch on whether execution remains tied to a concentrated control group.
Broader sector signals are mixed. Research on grocery retail in the region suggests Egypt’s formal grocery market has faced sluggish growth and declining store-level sales even as new outlets keep opening. At the same time, digital grocery and delivery channels continue to gain ground, and premium convenience formats remain attractive in dense urban areas where time-poor consumers are willing to pay for assortment, quality and doorstep service. Gourmet appears to be positioned squarely at that intersection, though maintaining growth from here may be harder than posting it.
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