Kenya’s leading supermarket chain, Naivas, has reported a 43.4% surge in net profit to Sh2.39 billion (861.7 million Mauritian Rupees) for the financial year ending 2025, driven by robust consumer demand and aggressive store expansion.
The previous year’s net profit stood at Sh1.87 billion (600.7 million Mauritian Rupees), marking a strong year-on-year performance.
Revenue and Store Growth
Naivas’ total revenue rose by 21.6% to Sh111.6 billion (40.28 billion Mauritian Rupees), powered by new store openings and increased footfall. The retailer now operates 108 outlets across strategic locations in Kenya, according to its majority shareholder, IBL Group.
“Naivas increased its turnover, led by new store openings and increasing consumer demand. Despite early headwinds in 2025, it pursued its expansion,” IBL Group noted in its 2025 annual report.
Operating Costs and Margins
Operating expenses grew in tandem with revenue, rising 21.2% to Sh109.2 billion. This kept net margins stable at 2.14%, a feat attributed to scale efficiencies.
“Stable margins and increased scale drove bottom-line expansion despite rising costs,” IBL Group told analysts during a recent investor briefing.
Balance Sheet Highlights
- Assets: Up 17.6% to Sh58.47 billion (21.11 billion Mauritian Rupees)
- Liabilities: Down 1% to Sh25.52 billion (9.21 billion Mauritian Rupees)
- Shareholder Equity: Sh32.95 billion
Leadership Transition
In a landmark move, Naivas appointed Andreas von Paleske as its first non-family CEO, following the departure of co-founder and longtime managing director David Kimani on 1st November 2025.
The leadership change coincides with a strategic shift, as a consortium led by IBL Group acquired a 51% stake in 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,” the company said in a statement.
