Dubai, UAE — School operator Taaleem Holdings reported a revenue growth of 30.3 percent year-on-year (YoY) to AED 709.2 million ($193 million) for the nine-month period ended May 2023.
This growth was primarily attributed to the narrowing of the group’s capacity utilization gap, establishment of new schools in the Premium portfolio, and the expansion of the Government Public-Private Partnership vertical.
When considering like-for-like revenue, which excludes recent acquisitions and government partnership schools, Taaleem achieved a growth rate of 13.8 percent YoY, amounting to AED 617.9 million.
Taaleem’s net profit grew marginally by 1 percent YoY to reach 28.2 percent, while the like-for-like net profit margin saw a 2.4 percent YoY improvement, reaching 30.4 percent compared to the previous year’s 28 percent.
The growth in net profit is primarily attributed to the operational efficiency and increasing enrollment in the company’s Premium schools portfolio.
Khalid Al Tayer, Chairman of Taaleem, said, “Our outstanding performance for the nine-month period reflects our dedication to providing high-quality education at an affordable price point and the ongoing execution of our 5-Year Strategy.”
“Our success can be attributed to continued investments in exceptional people, educational services, and school infrastructure. We expect to continue to maintain our strong growth trajectory as we open in total four new Premium schools in the coming years and expand our participation in government public-private partnership initiatives,” he said.
Taleem’s enrolments increased by 36.2 percent YoY compared to the previous year, to 28,563 students. The company’s progress in scaling up its Government Public-Private Partnership business is also noteworthy, with a reduction of 38.1 percent YoY compared to the previous year in the utilization gap