Education

Taaleem profits rise with surge in UAE student numbers

March 29, 2024, 9:12 AM

UAE schools operator Taaleem said student numbers across its portfolio of 32 schools rose to almost 38,000

Schools operator’s revenue up 15%
Enrolments increase by one third
Commitment to four new schools

An increase in student enrolments by more than one-third helped UAE schools operator Taaleem achieve a 53 percent increase in annual profits for the first half of the 2023-24 academic year.

Taaleem, which operates schools on behalf of the Abu Dhabi, Dubai and UAE federal governments, said student numbers across its portfolio of 32 UAE schools rose to almost 38,000.

The company, which listed on the Dubai Financial Market stock exchange in November 2022, said this helped to boost its bottom line to AED183 million ($50 million).

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Revenues were up 15 percent at AED549 million, while net debt dropped 30 percent to AED454 million.

Enrolment growth was fuelled by a 52 percent year-on-year increase in students in its government partnership division and a 10 percent increase within its premium, top fee-paying schools portfolio.

About 20 to 25 percent of Taaleem’s annual student intake is new to Dubai, while 40 percent come from competitors, CEO Alan Williamson told AGBI in an interview earlier this year.

The total number of students in the public and private sector in the UAE for 2020-21 stood at just over 1 million. This is expected to increase to 1.25 million students by 2030.

Taaleem also secured contracts to manage six new government schools over the first half of the year.

A further school – Dubai British School Jumeira – is due to be handed over in May this year.

Williamson revealed the company had spent AED10 million on upgrading facilities across its network.

“Over the previous half-year we have continued to uphold our commitment to excellence in education through significant strides in enhancing our campuses, curriculum and community,” he said.

Taaleem has committed to four new schools in the Emirates to accommodate 8,000 students. As well as the Dubai British School Jumeira, there is also Dubai British School in Mira and the company is expanding Greenfield International School in Dubai Investments Park.

Taaleem raised $204 million from its IPO, selling 254 million shares, or a 25 percent stake in the company.