Al Faleh Educational Holding Company Recommends Distribution Of Profits To Shareholders At 3.125% Of Capital

Doha: Al Faleh Educational Holding Company held its Board meeting chaired by Dr. Sheikha Aisha bint Faleh Al Thani, Chairperson of the Board of Directors recently to discuss and approve the financial statements for the period ending on August 31, 2022. The Chairperson of the Board of Directors, Dr Sheikha Aisha indicated that the Company had achieved a remarkable growth in the volume of business, as the revenues reached QR126.78m for the period ending on August 31, 2022 compared to QR121.94m for the same period of the previous year, with a growth rate of 3.97 percent. Earnings per share (EPS) amounted to QR0.051 for the period ending on August 31, 2022 compared to QR0.052 for the same period of the previous year.

During the meeting, the Board of Directors also recommended to the General Assembly, which will be held on November 13, 2022, the distribution of profits to shareholders at the rate of 3.125 percent of the Company's capital.

The Company fared well in cashflow generation, with net cash at the end of the year of QR11.9m, an increase of 75.3 percent from 2021. This was largely the result of stable business performance and improved working capital management. The Company's borrowing decreased to QR22m as at August 31, 2022, compared to QR33.8m for the same period of the previous year.

Dr. Sheikha Aisha bint Faleh Al Thani, Chairperson of Al Faleh Educational Holding Company

Sheikha Anwar bint Nawaf Al Thani, CEO of Al Faleh Educational Holding Company commented that the Company was able to achieve this revenue for several reasons; the most important of which is the increase in the number of students in the schools.

She added:“We expect additional growth for Al Faleh Educational Holding Company in the coming year, especially as we are currently working to get NEASC accreditation for Doha Academy schools, which shows the quality of education in our schools and our keenness to provide the best in the field of education. We are also working on introducing a range of specialisations by adding new university academic programs at AFG College with the University of Aberdeen after obtaining the approval of the Ministry of Education and Higher Education”. The Board stressed the importance of these indicators, as they are the main factors in building expectations of future revenues and net profits and enhancing shareholders' value.

Dr. Aisha bint Faleh Al Thani reviewed a range of non-financial achievements during the year 2021/2022.

She said:“After more than 20 years of the establishment of Doha Academy schools, we have built a strong reputation in offering British curriculum with a focus on Islamic ethos within Qatar. We are proud of our students who continue to achieve the highest scores in international examinations. This year, the percentage of students who excelled in their AS Levels reached 86 percent. As for AFG College with the University of Aberdeen, we forged new collaborations through memorandum of understandings that include Al Jazeera Media Institute, beIN and Talabat. These collaborations support our aspirations to increase the number of our students and provide more job opportunities for our graduates and undergraduates”.

MENAFN26102022000063011010ID1105081141