Page 59 - ALEF EDUCATION PR REPORT - JULY 2024

7/31/24, 11:16 AM Alef Education Posts AED249 Million Profit in First Half | Latest Political Business and Tech News from the Arabian Peninsula
Alef Education Posts AED249 Million

Profit in First Half

by Hyphen Web Desk - 30 July

Alef Education, a leading provider of AI-
powered learning solutions, reported a 7%
increase in adjusted profit before tax for
the first half of 2024, reaching AED249

million. The company's revenue grew to
AED750 million in 2023, reflecting a 12.4%
increase from the previous year. Alef
Education, which serves all public schools
and many private schools in the UAE, has
announced its plans for an initial public
offering (IPO) on the Abu Dhabi Securities
Exchange, set to be the first IPO in Abu
Dhabi this year. The IPO will offer 1.4
Credit: 1arabia.com billion shares, representing 20% of the

company's equity capital. Alef Education's
chairman highlighted the company's growth fueled by increased government spending on digital and AI tools in
education.

https://www.1arabia.com/2024/07/alef-education-posts-aed249-million.html 1/1