Egypt: Taaleem Management Services’ consolidated profits surge 30% YoY in 12 months

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Taaleem Management Services (TALM) reported a 30.05% year-on-year (YoY) increase in consolidated net profit after tax attributable to the parent company during the academic year of 2022/2023, which ended on August 31st, according to the financial statement filed to the Egyptian Exchange (EGX) on October 29th.

Net profits grew to EGP 297.108 million in the 12-month period from EGP 228.463 million a year ago.

Sales climbed 21.36% YoY, hitting EGP 749.858 million in the period starting September 1st, 2022, to August 31st, 2023, from EGP 617.857 million in 2021/2022.

The company also garnered EGP 67.477 million in standalone net profits after tax, compared to EGP 77.239 million.

Taaleem Management Services operates in the education sector. It owns Nahda University Beni Suef located in Upper Egypt.