Financial statements

Consolidated statement
of comprehensive income

For the year ended 31 December	Notes	2024 AED	2023 AED
INCOME
Education solution fees		659,668,853	656,945,193
Support and services		99,334,775	92,580,233
Revenue from contracts with customers	15	759,003,628	749,525,426
EXPENSES
Salaries and other benefits		(122,390,239)	(127,643,829)
Support and services expenses		(66,072,480)	(63,061,653)
Software licenses		(27,147,144)	(24,111,194)
Amortisation for intangible assets	6	(31,499,278)	(30,732,894)
Legal and professional fees		(17,218,134)	(30,788,935)
Depreciation on property and equipment	5	(1,730,007)	(3,271,862)
Lease expenses	7	(3,932,562)	(3,530,964)
Marketing expenses		(5,544,435)	(7,845,303)
Others		(4,513,585)	(3,624,960)
Total expenses		(280,047,864)	(294,611,594)
Operating profit for the year		478,955,764	454,913,832
Income from financial assets carried at fair value through profit or loss	16	–	122,795,687
Interest income		12,725,625	8,698,380
Profit for the year before tax		491,681,389	586,407,899
Income tax expense	22	(44,221,960)	–
Net profit for the year		447,459,429	586,407,899
Other comprehensive income		–	–
Total profit and comprehensive income for the year		447,459,429	586,407,899
Basic earnings per share (AED)	23	0.08	–

The attached notes 1 to 24 form part of these consolidated financial statements.