STI returns to profit

MANILA, Philippines — STI Holdings posted a net income of P19.8 million in the first quarter ending Sept. 30 of its current fiscal year.

STI’s fiscal year follows the academic calendar, which begins on July 1 and concludes on June 30 of the following year.

The amount represents a marked turnaround for the company after reporting a loss of P47.6 million during the same period last year.

The company raked in gross revenue of P650.6 million during the period, or about 30 percent higher than the P500.4 million it posted during the same period last year, STI  said in a disclosure to the Philippine Stock Exchange.

Enrollment in its schools breached the six-digit mark as the number of students  reached almost 120,000 compared to 94,312 enrollees in the previous school year.

The total count of new students for the current academic year reached 55,982, marking a 35 percent growth from 41,565 new students in the previous school year.

Enrollment in programs regulated by the Commission on Higher Education increased by 25 percent to more than 83,000 students compared to enrollees in SY 2022 to 2023 of over 66,000.

STI Holdings has three subsidiaries involved in education: the STI Education Services Group (STI ESG), STI West Negros University (STI WNU), and iAcademy.

STI ESG offers associate and baccalaureate degrees and technical-vocational programs in the fields of information and communications technology, business and management, hospitality management, tourism management, arts and sciences, engineering, education, psychology and criminology. It also offers junior and senior high school.

STI WNU offers programs and courses ranging from basic education to graduate levels. It was granted its university status by the Commission on Higher Education on Feb. 11, 2008. STI WNU’s campus sits on a 3.1-hectare property in Bacolod City.