Phinma 2024 earnings slide by 66.37% to P279.55M

MANILA, Philippines – Higher construction costs and weak property demand caused the 2024 earnings of Phinma Corp. to slide by 66.37 percent to P279.55 million.

In a stock exchange filing on Tuesday, the conglomerate led by businessman Ramon del Rosario Jr. said revenues rose by 11.7 percent to P23.8 billion.

“We will keep harnessing strengths and synergies among our businesses, all while pursuing new ventures in fields like community housing, which directly cater to the daily needs of our underserved countrymen,” Phinma chair and CEO Del Rosario said in a statement.

Phinma Education Holdings Inc.’s net income was flat at P1.19 billion, while revenues jumped by 17 percent to P6.39 billion on the back of enrollment growth.

During the school year 2024 to 2025, enrollment increased by 12 percent to 163,854 students across Phinma’s schools in the Philippines and Indonesia.