Dubai’s Taaleem records Dhs117.3m in full-year profit

Dubai’s Taaleem records Dhs117.3m in full-year profit

Image courtesy: WAM

Dubai’s Taaleem Holdings said its full-year net profit surged by 41.5 per cent to Dhs117.3m, driven by a surge in student enrollments and higher net finance income from the undeployed initial public offering (IPO) proceeds. Taaleem raised $204m from its IPO on the Dubai Financial Markets in November 2022.

The school operator added 28,490 new students for the 2022/23 academic year, a 35.9 per cent year-on-year (YoY) increase in enrolments amid an increase in the reflecting an increase in the country’s population.

Student enrollment across the group saw exceptionally strong growth in the 2022/23 academic year, driven by a substantial double YoY increase in the number of new schools added to Taaleem’s portfolio under a partnership with the government.

“With a positive outlook for the UAE and significant enrolment growth across our portfolio supporting our expansion strategy, I am confident that our passionate team will continue driving Taaleem’s success in shaping regional education,” said Khalid Al Tayer, chairman of Taaleem.

Taaleem was awarded eight new government partnership schools, including one school under the Dubai Schools agreement, four schools under the new ESE contract and three schools as part of the Charter Schools programs in Abu Dhabi.

The Dubai-listed school operator said its