Page 39 - ALEF EDUCATION PR REPORT - JULY 2024
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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.