Doha: Al Faleh Educational Holding Company recently held its Board Meeting chaired by Dr Sheikha Aisha bint Faleh Al Thani, Chairwoman of the Board, to discuss and approve the financial statements for the period ending August 31 2022. Chairman of the Board, Dr. Sheikha Aisha reported that the company has achieved remarkable growth in business volume, with revenue reaching QR 126.78 million for the period ending August 31, 2022, against 121.94 million QR for the same period of the previous year. year, with a growth rate of 3.97%. Earnings per share (EPS) was QR 0.051 for the period ending August 31, 2022, compared to QR 0.052 for the same period a year earlier.
During the meeting, the board of directors also recommended to the general meeting, which will be held on November 13, 2022, the distribution of profits to shareholders at the rate of 3.125% of the Company’s capital.
The company performed well in terms of cash flow generation, with net cash at the end of the year of QR 11.9 million, an increase of 75.3% compared to 2021. This s largely explained by stable business performance and better working capital management. The company’s borrowing decreased to QR 22 million as of August 31, 2022 from QR 33.8 million in the same period of the previous year.
Dr. Sheikha Aisha bint Faleh Al Thani, President of Al Faleh Educational Holding Company
Sheikha Anwar bint Nawaf Al Thani, CEO of Al Faleh Educational Holding Company, said the company was able to achieve these revenues for several reasons; the most important of which is the increase in the number of pupils in the schools.
She added, “We expect further growth for Al Faleh Educational Holding Company in the coming year, especially as we are currently working towards obtaining NEASC accreditation for the schools of the Academy of Doha, which shows the quality of education in our schools and our commitment to providing the best in education.We are also working to introduce a range of specializations by adding new university academic programs to AFG College with the University of Aberdeen after gaining approval from the Department of Education and Higher Education.” The Council underlined the importance of these indicators, as they are the main building expectations of future income and net profits and improvement in shareholder value.
Dr. Aisha bint Faleh Al Thani reviewed a series of non-financial achievements during the year 2021/2022.
She said: “After more than 20 years of establishing the Doha Academy Schools, we have built a strong reputation for offering a British curriculum with an Islamic ethos in Qatar. We are proud of our students who continue to achieve top scores in international exams. This year, the percentage of students who excelled in their AS levels reached 86%. As for AFG College with the University of Aberdeen, we have forged new collaborations through MoUs that include Al Jazeera Media Institute, beIN and Talabat. These collaborations support our aspirations to increase our student numbers and provide more employment opportunities for our graduates and undergraduates.”