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Taaleem’s net profits leap 53% in H1-23/24

Taaleem’s net profits leap 53% in H1-23/24
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Dubai – Mubasher: Taaleem Holdings logged net profits before tax worth AED 182.80 million in the first half (H1) of fiscal year (FY) 2023/2024, marking a 53% year-on-year (YoY) leap. 

Revenues jumped by 15% YoY to AED 548.70 million as of 31 December 2023, according to the annual financials.

Khalid Al Tayer, Chairman of Taaleem, said: Our record results for H1-23/24 reflect this commitment, as we invest in expansion, innovation, and enhancements for our students and communities.”

Alan Williamson, CEO of Taaleem, commented:  “With an investment exceeding AED 10 million, we have upgraded our facilities to include state-of-the-art canteens and substantial improvements in facilities across a number of schools, ensuring our environments inspire and facilitate learning at the highest levels.”

During the first six months (6M) of FY23/24, Taaleem witnessed robust growth in student enrolment, with an annual increase of 33.20%.

This growth was driven primarily by a significant uplift of 51.50% YoY in new students enrolled in government partnerships and a 10.30% YoY rise in enrolment within the premium schools' portfolio.

Furthermore, Taaleem expanded its reach by securing six new government partnership schools.

In the first quarter (Q1) of FY23/24, the company registered lower net profits at AED 46.62 million, compared to AED 50.85 million a year earlier.