High enrollment boosts STI earnings in 9 months

MANILA, Philippines — STI Education Systems Holdings Inc., the owner of the largest network of private schools in the country, saw its earnings nearly double in the nine-month period ending March on the back of higher enrollment numbers during its current academic year.

STI reported a net income of P1.1 billion for the nine-month period, a 93-percent surge from P579.3 million in the same period the previous year fiscal year.

Net income from January to March, representing the third quarter of its financial year, climbed by 69 percent to P600.3 million from P355.9 million.

STI Holdings’ financial year is consistent with its academic calendar, which starts on July 1 and ends on June 30 of the following year.

Revenues generated by the company during the nine-month period rose by 38 percent to almost P3.4 billion from P2.4 billion in the same period in the previous year.

STI attributed the increase primarily to the 27 percent hike in the total number of students for school year 2023 to 2024.

Enrollment in STI schools for the said school year reached almost 120,000, 27 percent more than the 94,312 enrollees in school year 2022 to 2023.

Education institutions under the group are composed mostly of STI-branded schools being operated by the STI Education Services Group Inc.

STI Education Services Group has a network of 63 operating schools, comprising 60 colleges and three education centers.

Other schools belonging to ST Holdings are STI WNU in Bacolod City and iACADEMY.