Dubai-based Gems Education saw its revenue grow by 20 percent in the year through to March, helped by rising fees and pupil numbers.
The National reports that Gems, which operates more than 50 schools across 19 countries in the Middle East, North America, Europe, Asia and Africa, earned $674.8 million in revenue in the year through March, up 20 percent on the previous year’s figure of $559.6 million.
Gems said its revenue increase was down to improvement enrolment numbers, which rose by nearly 9 percent to 98,000, and improved annual revenue per pupil.
Dubai's Fajr Capital led a group, including Blackstone and Bahrain sovereign fund Mumtalakat, in acquiring a "significant minority stake" Gems Education in October last year.
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