Naivas reported a 43.4 per cent growth in net profit to Sh2.39 billion (861.7 million Mauritian Rupees) as increased consumer demand and new store openings drove sales.
The retailer’s net profit last year came in at Sh1.87 billion (600.7 million Mauritian Rupees).
The company’s revenue rose by 21.6 per cent to hit Sh111.6 billion (40.28bn Mauritian Rupees) due to new store openings and increased consumer demand.
IBL Group, which controls the retailer, told investors in their 2025 annual report:
“Naivas increased its turnover, led by new store openings and increasing consumer demand. Despite early headwinds in 2025, it pursued its expansion and is now operating 108 outlets in strategic locations in Kenya.”
The supermarket chain’s operating expenses kept pace with revenue growth, growing 21.2 per cent to Sh109.2 billion putting the retailer’s net margins at 2.14 per cent.
IBL Group told analysts in a meeting presentation:
“Stable margins and increased scale drove bottom-line expansion despite rising costs.”
The retailer’s assets grew by 17.6 per cent in the period to Sh58.47 billion (21.11 billion Mauritian Rupees) while liabilities shrunk by 1 per cent to Sh25.52 billion(9.21 billion Mauritian Rupees) leaving owners with an equity of Sh32.95 billion.
The retailer appointed its first non-family CEO in its 35-year history, Andreas von Paleske, after co-founder and former managing director David Kimani stepped down from his role on 1st November 2025.
The change came as a consortium led by IBL Group took control of the retailer, with IBL group controlling about 51% of the retailer.
“This transition is a testament to a succession plan built on stability, strategic foresight and profound respect for the culture that has made Naivas Kenya’s leading retail chain,” said the retailer in a statement announcing the change of leadership last month.
Naivas, which last month hit 111 stores with a new stores at Gachie Westbay Mall and at OUR mall along Magadi Road, has grown to become the largest supermarket chain in Kenya with more than 10,000 employees.
