Dubai – Mubasher: Taaleem Holdings posted year-on-year (YoY) higher net profits at AED 225.19 million in the first nine months (9M) of fiscal year (FY) 2023/2024, versus AED 199.80 million.

Basic and diluted earnings per share (EPS) went up to AED 0.23 as of 31 May 2024 from AED 0.22 a year earlier, while the revenues hiked to AED 830.72 from AED 722.23 million.

Total assets amounted to AED 2.61 billion in 9M-23/24, compared to AED 2.44 billion at the end of August 2023, according to the income statements.  

Financials for Q3-23/24

In the third quarter (Q3) of FY23/24, the DFM-listed company recorded net profits worth AED 86.37 million, an annual rise from AED 80.29 million.

Revenues hiked to AED 282.07 million in Q3-23/24 from AED 244.99 million a year earlier, while the EPS grew AED 0.09 from AED 0.08.

Khalid Al Tayer, Chairman of Taaleem, commented: “Despite this rapid expansion, our blended utilisation has risen to 88.40%, up 3.80% from last year, underscoring the effectiveness of our growth strategy.”

“Looking ahead to the upcoming academic year, we are poised to add approximately 2.4 thousand seats to our premium segment, with the construction of Dubai British School Jumeira now complete, and the expansion of Greenfield International School nearing completion,” Al Tayer continued.

Alan Williamson, CEO of Taaleem, said: “Our top-line growth for the period was significantly bolstered by an impressive increase in enrolment across all of our schools, particularly under our premium segment which saw its overall utilization surge by 7.50% YoY to come in at 83%.”

In the first half (H1) of FY23/24, the net profits before tax enlarged by 53% YoY to AED 182.80 million.