Ataa Educational reported SAR 63.4 mn in bottom line in FY 2023-24, dipping 6.5% y-o-y, it said in a disclosure to Tadawul. The company attributed the fall to its loan financing costs rising 19% y-o-y as it took on more debt to purchase minority rights in three school complexes during the year, in addition to “losses in the training and employment sectors.” Ataa’s education division saw its bottom line rise 8% y-o-y, according to the disclosure.

The school operator’s revenues rose 0.1% to SAR 666.5 mn during the fiscal year, which ended on 31 July, buoyed primarily by higher tuition fees at some of its schools.

ICYMI- Ataa-operated Buckswood British School to open its doors to students this academic year: Sussex-based Buckswood British School has opened a Riyadh branch (Buckswood Riyadh) that is opening starting this academic year.The K-12 school is located in Al Izdihar district and will offer the IGCSE and IB Diploma programs, catering to students from kindergarten through high school, and is open for both boys and girls.

Background: Ataa and Buckswood Global Education launched a SAR 100k company to manage the Buckswood School in the Saudi capital under a partnership agreement they signed in August. Ataa owns an 80% stake in the company, while Buckswood holds the balance.

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