Phinma education arm posts 30% profit growth

The education services arm of Phinma Corp. grew its net profit by 30 percent in fiscal year ending March 2020 on the back of higher enrolment across its chain of seven schools in the country.

Phinma Education Holdings Inc. (PEHI) posted a net income of P532 million for the fiscal year, up fromP410 million a year ago.

The combined net income of its seven schools stood at P800 million out of revenues of P2.9 billion.

The growth was attributed to the 24 -percent increase in total freshman enrollment, which supported a 7- percent increase in total enrolment. This brought the group’s total student population to 75,375.

The newest school in PEHI’s portfolio is Phinma Republican College of Quezon City, which was acquired last December. PEHI also manages one school in Karawang, West Java, Indonesia.

PEHI is projected to continue to grow as it deploys the P1.87 billion in fresh capital from its partnership with private equity firm Kaizenvest, Dutch lender FMO, and the Asian Development Bank (ADB) to fund its expansion plans.

PEHI takes pride in its students’ average 80 percent first-time passing rate for licensure exams, with some 81 percent of students getting hired a year after graduation. It has produced 94 board exam top-notchers since its inception in 2004.

PEHI’s parent company, Phinma Corp., also has interests in property development, hospitality and construction materials.