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11/27/24, 8:21 AM Alef Education Achieves MSCI UAE Small Cap Index Inclusion Signalling Strong Financial Performance and Future Growth - Middl…
Alef Education Achieves MSCI UAE Small Cap
Index Inclusion Signalling Strong Financial
Performance and Future Growth
By News Desk 1 25/11/2024
Alef Education, a UAE-based global leader in education technology, has been added to the MSCI UAE Small
Cap Index, a significant milestone achieved just five months after its IPO. The inclusion underscores the solid
financial and operational performance of Alef Education and its promising growth prospects.
MSCI confirmed the inclusion in its latest list of additions and deletions, with the change to take effect after
the close of equity markets on 25 November 2024. The inclusion holds further significance as it comes more
than a week after Alef Education announced robust financial results for the period ending 30 September
2024. The company reported an 8% increase in adjusted profit before tax to AED 379 million, driven by a
solid revenue base from long-term contracts and a focus on significant cost efficiencies across its operations.
Geoffrey Alphonso, CEO of Alef Education, said, “We are delighted to be included in the MSCI UAE Small
Cap Index as it reflects the global market’s confidence in our strong fundamentals and strategic vision. This
achievement emphasises our commitment to providing innovative education solutions and our dedication to
sustainable growth and value creation for our shareholders. This milestone will allow Alef Education to
diversify its investor base and make its solid financial foundation and high shareholder returns visible on the
global financial market. At Alef Education, we reaffirm our commitment to driving effective change and
shaping the future of education through progressive, technology-driven approaches.
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