Dubai – Mubasher: Taaleem Holdings recorded net profits valued at AED 46.62 million in the first quarter (Q1) of fiscal year (FY) 2023/2024, an annual drop from AED 50.85 million.
Revenues surged by 11.50% to AED 258.70 million in Q1-23/24 from AED 231.94 million in Q1-22/23, while the basic and diluted earnings per share (EPS) attributable to owners fell to AED 0.05 from AED 0.07.
Total assets amounted to AED 2.34 billion as of 30 November 2023, versus AED 2.44 billion as of the end of August last year, according to the interim consolidated financial results.
Khalid Al Tayer, Chairman of Taaleem, underlined: “Taaleem is committed to delivering the best possible educational outcomes in the UAE and to supporting the growth of our sector.
“Our record results for Q1-23/24 demonstrate this commitment as we invest in expansion, innovation, and improvements for the benefit of our students and our communities,” Al Tayer indicated.
Alan Williamson, CEO of Taaleem, said: "Our commitment to growth and quality education led to a 26.60% rise in student enrolments year-on-year and the addition of five new government partnership schools.”
“The remarkable increase of 8.30% in premium school capacity utilisation and the additions to our portfolio reflect our unwavering commitment to providing educational excellence to an increasing number of students across the UAE,” Williamson added.
During the 12-month period that ended on 31 August 2023, Taaleem posted 41.50% higher net profits at AED 117.33 million, compared to AED 82.92 million in FY22/23.
