Taaleem reports record revenue of AED 709.2 million for nine months in May 2023

Taaleem reports record revenue of AED 709.2 million for nine months in May 2023

DUBAI, 11th July, 2023 (WAM) – Taaleem Holdings PJSC (Taaleem), one of the largest K-12 Premium school operators in the UAE, has released its financial results for the nine-month period ending on May 31, 2023. The company, listed on the Dubai Financial Market (DFM), reported a consolidated revenue growth of 30.3% year-on-year (YoY), reaching AED 709.2 million. This growth was primarily attributed to the narrowing of the group's capacity utilization gap, the successful 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 solid growth rate of 13.8% YoY, amounting to AED 617.9 million. This figure underscores the strong operational performance of the company. Taaleem's net profit margin for the period stood at 28.2%, representing a 1.0% YoY improvement compared to the previous year. Similarly, the like-for-like net profit margin saw a 2.4% YoY improvement, reaching 30.4% compared to the previous year's 28.0%. 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, commented, “Our outstanding performance for the nine-month period