Taaleem Holding achieved net profits after tax during the 9 months ending on May 31, 2024, of approximately AED 225.2 million, compared to AED 199.8 million, with a growth of 13%, while net profit before tax increased by 38.9% to AED 277.6 million.
Revenues grew by 15% to AED 830.7 million during the first nine months of the 2023-24 academic year, driven by a 33% increase in total student enrolment to 37,954 students, as well as the addition of six new schools under the Public-Private Partnership programme.
Continue building
Khalid Al Tayer, Chairman of the Board of Directors of the company, said: “Taaleem has succeeded in expanding its business and continuing to build on its achievements during the first nine months of the current academic year, as student enrolment rates increased by 32.9% annually during the period, in light of the expansions achieved by the company to accommodate 9.2 thousand new students, through the accession of new government schools. The company also continued to reap the fruits of its effective growth strategy, which witnessed an increase in student enrolment and participation in the various educational curricula offered by the company, as the combined rate of utilised capacity in all affiliated schools increased by an annual rate of 3.8% to 88.4%. Taaleem looks forward to enhancing the capacity of the affiliated distinguished schools sector to include 2.4 thousand new students during the next academic year, as it succeeded in completing construction work at Dubai British School – Jumeirah, and is close to implementing the planned expansions at Greenfield International School. “Taaleem has a unique business portfolio, managing and operating 32 schools and serving more than 37,954 enrolled students. This reflects its unwavering commitment to providing superior educational services that contribute to enriching students’ educational journeys, in addition to enhancing its pioneering role in integrating and implementing sustainability practices across its various affiliated institutions, ensuring further growth and, consequently, building a better future for future generations.”
Strong results
“The company has delivered strong financial results for the first nine months of the 2023-24 fiscal year, driven by record growth in student enrolments across its schools, particularly in the premium schools segment, which saw total utilised capacity increase by 7.5% year-on-year to 83% during the period. These achievements underscore Taaleem’s commitment to continuing to provide world-class education services that meet the expectations of students and their families. On the other hand, the company has successfully entered into a strategic partnership with Harrow International Schools Limited, which will grant Taaleem the exclusive right to own and operate Harrow International Schools,” said Alan Williamson, CEO of Taaleem.