STI earnings hit P644 M for FY 2017

MANILA, Philippines - Listed education firm STI Holdings Inc. said its net profit for its fiscal year ending March 2017 amounted to P644 million on revenues of P2.9 billion.

Revenues grew 14 percent due to the record number of students enrolled in its schools in the current academic year.

For 2016-2017, enrollment among schools in its network reached a total of 103,727 students, up 22 percent from the 84,730 enrollees the previous school year.

Boosting the numbers are enrollees in the Senior High School (SHS) program offered by STI-branded schools, as well as iACADEMY and STI West Negros University (STI WNU). Combined, SHS students in these schools  reached 39,206.

Enrollment for courses accredited by the Commission on Higher Education stood at 57,950, while students taking up Technical Education and Skills Development Authority (TESDA) courses reached 5,692. There are also 879 enrolled in the basic education offered by STI WNU.

STI president Monico Jacob said the current enrollment mix in the schools, especially the exceptional number of students enrolled in senior high school, would help ensure a consistent level of enrollments in the years to come.

“We see the successful implementation of our SHS as a feeder for our college program. We are looking forward to this because this means more and more Filipinos will get to experience the brand of quality education our schools offer,” Jacob said.

STI, which operates one of the largest network of private schools in the country,  follows an April to March fiscal year mirroring that of an academic cycle in the Philippines since the bulk of its income comes from its education services.

Total assets grew 36 percent to P14.3 billion as of March 31, 2017.