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Sunday, 16 January 2022

Earnings watch: Taaleem

EGX-listed Taaleem saw a 23.7% y-o-y increase in its bottom line in 1Q2021-2022 to EGP 71.9 mn, the company said in an earnings release (pdf). Revenues also rose 27.3% y-o-y to EGP 171.7 mn for the September-November 2021 period, the company said. The strong performance came on the back of higher operating revenues as operational conditions continue to normalize post-pandemic, which outstripped growth in operating costs and expenses by 20.4 percentage points.

Enrolment at Nahda University in Beni Suef was down 48% y-o-y, with 916 new students admitted during 1Q2021-22. The decrease followed a decline in the pool of eligible applicants after the Thanaweya Amma examination system was updated, the company said. That said, average tuition revenue per student was up 30.5% y-o-y at EGP 27k. Progress continues on the company’s second higher education institution, Badya University in West Cairo.

The higher ed outfit expects the growth to continue going forward: Taaleem built “a strong platform for further growth during the rest of the year” in the first quarter, said Managing Director Mohamed El Rashidi. The company will continue to focus on growth and cost-level efficiencies to yield strong profitability, he added.

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