Dubai’s Taaleem posts $54.5m profit since IPO

Dubai’s Taaleem posts $54.5m profit since IPO

Dubai’s Taaleem Holdings said its net profit in the nine months to the end of May 2023 surged by 34.9 per cent to $54.5m (Dhs199.8m), driven by a surge in student enrollments and higher net finance income from the undeployed initial public offering (IPO) proceeds. Taaleem raised from its IPO on the Dubai Financial Markets in November 2022. The school operator added 28,563 new students for the 2022/23 academic year, a 36.2 per cent year-on-year (YoY) increase in enrolments amid an increase in the reflecting an increase in the country’s population. “The company’s net profit margin is 28.2 per cent compared to 27.2 per cent the previous year, showing a +1 per cent YoY improvement,” Taaleem said in a bourse filing while noting that the primary driver of net profit growth is its premium schools’ strong focus on operational efficiency and rising enrolment. Taaleem also announced a 2.8 per cent weighted average tuition fee increase at its premium schools to enhance the delivery of high-quality education services. The Dubai-listed firm said its revenues surged by 30.3 per cent YoY to Dhs709.2m in the nine months to the end of May, due to the narrowing of the school operator’s capacity utilisation