Gems Education reports increase in six-month revenue



Dubai-based Gems Education yesterday said its six-month revenue through the end of February rose by 15.5 per cent year-on-year to US$539.1 million thanks to an uptick in student enrolment.

The education provider also attributed the rise to “an increase in annual average revenue per student, acquisition of a group of two schools and an increase in other income because of an increase in the number of schools and students”, in a statement to Nasdaq Dubai. Gems was not available for comment.

The education ­provider, which runs more than 88 schools in the UAE and abroad, said student enrolment increased by 10 per cent to 113,345 students at the end of February, up from 102,361 students a year ago. The total capacity, however, was 132,438 students at the end of February, up 18.6 per cent from 111,652 students a year ago.

Gems aims to boost its school capacity over the next 24 months by opening new facilities and extending existing buildings.

During the six months since August 31, Gems has spent $242.7m, including on the repurchase of three leased school buildings, which were originally financed by a sale and leaseback transaction.

It also opened four schools in the UAE and extended six schools in the country. It acquired a group of two schools, under a sale and purchase agreement in July, and entered into a $40.8m bilateral facility agreement to finance the acquisition. The company issued a $200m sukuk in 2014. “Efficient private schools can make around 15 per cent to 20 per cent net profit margins once a school is stabilised,” says the consultancy Colliers International.

Dubai had 173 private schools with 265,299 students in the 2015-2016 academic year. The Knowledge and Human Development Authority in Dubai said last year that 15 to 20 private schools were set to open during the 2016-2017 academic year.

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-      Don’t do it more than once in three days

-      Don’t go under 700 calories on fasting days

-      Ensure there is sufficient water intake, as the body can go in dehydration mode

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How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
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Uefa Champions League, last-16, second leg (first-leg scores in brackets):

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Plan to boost public schools

A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.

It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.

Aspects of the school model will be extended to international private schools, the education minister has previously suggested.

Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.

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Qualifier one, 2.10pm – Netherlands v UAE

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La Liga: 2016/17
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Uefa Champions League: 2015/16, 2016/17, 2017/18
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Fifa Club World Cup: 2016, 2017

Specs

Engine: 2-litre

Transmission: Eight-speed automatic

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New Zealand 266 for 9 in 50 overs
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Next match: Zayed Cricket Stadium, Abu Dhabi, Friday

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Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson

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Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
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Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
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Basel v Benfica
CSKA Moscow Manchester United
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GOLF’S RAHMBO

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The bio

Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district

Was a middle distance state athletics champion in school

Enjoys driving to Fujairah and Ras Al Khaimah with family

His dream is to continue working as a social worker and help people

Has seven diaries in which he has jotted down notes about his work and money he earned

Keeps the diaries in his car to remember his journey in the Emirates

Sri Lanka-India Test series schedule

 

  • 1st Test India won by 304 runs at Galle
  • 2nd Test Thursday-Monday at Colombo
  • 3rd Test August 12-16 at Pallekele