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Education provider Taaleem saw its net income after tax grow 17.6% y-o-y to AED 138 mn in FY 2023/24, according to the firm’s financial statements (pdf). Meanwhile, net income before tax grew 55.1% y-o-y to AED 182 mn during the year. The company’s fiscal year ended 31 August.
The company recorded AED 945.2 mn in revenue during the year, up 15.5% y-o-y, “supported by a 33.1% increase in in student enrolment,” the company said in its earnings release (pdf). The education provider added 9.4k new students to its school network, raising its total enrollment to nearly 38k across 32 schools after increasing its student capacity to 42.9k from 33.7k last fiscal year — and marking an 88.4% capacity utilization rate. The expansion included the addition of six new schools through public-private partnerships with the government.
Revenue breakdown: Taaleem booked AED 836 mn in revenues from its network of 10 schools across Dubai and Abu Dhabi, accounting for 88.4% of total operating revenues. Government partnerships made up the remaining 11.6%.
Taaleem has more schools in the pipeline: Taaleem is set to open its new school Dubai British School Mira by August next year, following the launch of Dubai British School Jumeira last August. The company is currently building two premium schools in Dubai and Abu Dhabi, targeting upper-income families.
