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Education provider Taaleem recorded a bottom line of AED 182.8 mn in 1H 2023-24, up 53% y-o-y on the back of “enrolment growth, additional schools, interest gains on cash reserves, and low debt position,” according to the company’s earnings release (pdf). The company’s revenues increased 15% y-o-y during the period to AED 548.7 mn, with a record number of nearly 38k students enrolled in its schools — up 33.2% y-o-y — during the first half of the company’s fiscal year, which runs from September to August.
The company saw an increase of 51.5% y-o-y in new students enrolled in its PPP schools,after it secured six new government partnership schools during the first half of the year, including an additional school in 2Q 2023-24 for the Charter School’s vertical in Abu Dhabi. Taaleem’s premium schools portfolio saw a 10.3% y-o-y rise in enrolment during the period, with an 83% capacity rate during 1H 2023-24, up nearly eight percentage points.
Taaleem poured over AED 10 mn in investments geared at upgrading its facilities during the six-month period, introducing new BTEC courses for autistic children, and bagging approval to implement solar panels across all Taaleem schools as part of an initiative that also saw it integrate science education programs to promote sustainability across curriculums. The company also partnered with British School to establish a school in Jumeirah for some 1.9k students, with the handover planned for the beginning of May 2024.
