Page 39 - ALEF EDUCATION PR REPORT - JULY 2024
P. 39

Alef Education reports 7% increase in profit for H1

               2024



               Alef Education’s revenue for the first half of 2024 increased by 1% to Dh354 million.












































               Credit: Pexels

               Alef Education has reported a 7% rise in adjusted profit before tax to Dh249 million for the first half
               of 2024. The surge was attributed to a stable revenue base and a focus on cost efficiencies. The
               company’s adjusted EBITDA margin expanded to 73%, driven by strong revenue performance and
               cost reductions.
               Alef Education’s revenue for the first half of 2024 increased by 1% to Dh354 million, primarily due to
               long-term contracts, including a significant contract with the Abu Dhabi Department of Education
               and Knowledge (ADEK). This contract, which accounts for a substantial portion of Alef’s revenue,
               covers a minimum of 80,000 students and provides revenue visibility for the next seven years.
               Discussions are underway to extend this contract for an additional three years.






               https://www.financemiddleeast.com/alef-education-reports-7-increase-in-profit-for-h1-
               2024/#:~:text=Alef%20Education%20has%20reported%20a%207%25%20rise%20in,driven%20by
               %20strong%20revenue%20performance%20and%20cost%20reductions.
   34   35   36   37   38   39   40   41   42   43   44