Quantcast
Latest Stories

STI nets P185.3 million in 2nd quarter

By

Photo from STI website

MANILA—STI Education System Holdings Inc. grew its net profit in the quarter ending June by 41.8 percent year-on-year to P185.3 million on higher student enrollment as well as longer and more expensive education programs.

For the three-month period, STI reported an increase of 4 percent in the number of students to 71,195 for this school year 2013-2014 compared to the previous school year, based on a report to the Securities and Exchange Commission.

In peso terms, STI increased its net income by P54.7 million and revenues from tuition by P24.70 million during the quarter compared to the same period last year.

Apart from the increase in enrollees, the network reported a favorable enrollment mix in 2013, with more students preferring to enroll in STI’s four-year programs than the two-year programs. The four-year programs charge higher tuition and bring in more revenue per student.

“Ratio in 2013 was 75 percent four-year programs and 25 percent two-year programs, as compared to 70 percent and 30 percent, respectively, in 2012, ” STI reported.

The higher enrollment translated to an 11 percent increase in revenues from tuition and other school fees to P252.4 million from the level a year ago.

STI also reported P42.8 million in revenues from educational services, 7 percent higher more than a year ago.

On the other hand, cost of educational services declined by 7 percent to P83 million year-on-year due to the decrease in the faculty salaries and other direct expenses.

STI Holdings is in the middle of a massive expansion program, in anticipation of further increase in enrollments in the coming years. The Ortigas-Cainta campus has been completed and the planned transfer of the headquarters of STI ESG has been implemented. The school campus is now in operation. The 11-story Caloocan campus has also been completed and will be ready by the end of October this year.

Construction of STI Cubao has also started and is expected to be completed by March 2014. STI further plans to construct new buildings for five campuses located in Cagayan de Oro, Calamba, Cebu, Davao and Lucena. Due diligence audit for the purchase of a university in the Visayas has also been completed

STI has also invested in a number of expansion projects for company-owned campuses including a 5,000-square-meter property at the heart of the central business district of Naga City.

The company likewise “remains on the lookout for existing tertiary schools for possible mergers, acquisitions, or both.”


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , profitability , STI



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Camilla’s brother dies of NYC head injury
  • Nepal officials go to Everest to try to end crisis
  • Escudero ready to defend self should name appear in Napoles’ list
  • Obama calls for peaceful end to island dispute
  • Russia not abiding by agreement on Ukraine—Obama
  • Sports

  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Ronaldo shakes off injury fears to play Bayern
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • PH-HK relations repaired, but families of victims still being courted
  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Marketplace