STI Holdings net profit rises 60%

STI Holdings, which operates the STI chain of schools, said profits during the six months through September rose 60 percent to P454.6 million as more students enrolled, a statement Friday showed.

STI Holdings said the company also generated revenues amounting to P826.9 million, up 11 percent.

“The 11-percent increase in gross revenues resulted mainly from the increase in the number of students of STI Education Services Group, Inc. and its subsidiaries,” STI Holdings said.

The company said that its schools took in a total of 71,195 students this school year, which was higher by 2,832 students than the number of enrollees during the last school year.

It added that the enrollment mix was more favorable in 2013 as compared to 2012, with more students opting for the four-year programs rather than the two-year programs. The four-year programs are the CHEd approved courses while the two-year programs are the Tesda courses.

“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. The four-year programs charge higher tuition and bring in more revenue per student,” the company said.

Tuition also increased by 5 percent for old students and 7 percent for new students, further contributing to the revenues. Miguel R. Camus