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Dubai school operator Taaleem increases profit by 55%

Taaleem's schools offer 'exclusive educational experiences' including access to high-tech equipment profits Taaleem
Taaleem's schools offer 'exclusive educational experiences' including access to high-tech equipment
  • Revenue up 15%
  • Premium private schools driving success
  • 37,390 students enrolled in 32 schools

Dubai school operator Taaleem has reported revenue of AED945.2 million ($257.3 million) for its 2023-24 financial year – a 15.5 percent year-on-year increase.

More student enrolments and the opening of new schools helped Taaleem to increase net profit before tax by 55 percent, to AED182 million, in the financial year ending August.

Taaleem’s shares were trading at AED3.82 on the day following the company’s earnings announcement.

“We are strategically positioned for even greater growth within the UAE’s thriving education sector,” said Khalid Al Tayer, chairman of Taaleem.

He highlighted plans to create two new premium schools in Dubai, one of which is part of a tie-up between Britain’s Eton school to create the first Eton-branded school in the UAE in 2026.

“We are thrilled to move forward with the creation of two super-premium schools in Dubai and Abu Dhabi,” said Al Tayem.

“Partnering with one of the leading education brands globally, the two schools are designed to cater to upper-income families seeking exclusive educational experiences.”

Taaleem manages 32 schools in the UAE, 22 of which are run on behalf of government entities across the Emirates. The remaining 10 schools are privately run and focus on the premium segment of the market.

The 10 premium schools Taaleem runs generate 88 percent of the company’s revenue, while the 22 government schools contribute the rest.

As of August 2024, 37,390 students were enrolled in Taaleem’s 32 schools across the UAE, with 14,004 enrolled in premium schools.

Private education in the UAE is becoming an increasingly competitive market. Navin Valrani, CEO of The Arcadia School, told AGBI in May this year that the emirate has more than 200 private schools from large and global operators.

“Dubai is the world’s most competitive city for private independent schools,” he said.