Listed private school owner STI Holdings on Thursday post a net profit of P223.4 million for the six months ended December 31, 2022, four times the P55 million it recorded in the year-earlier period on increased enrollment.
STI also reported a July-December revenue of P1.44 billion, a 28 percent increase from the P1.12 billion posted in the year-earlier period.
“For the current SY 2022-2023, the total number of new students reached 41,565 compared with the 35,566 new students last school year, showing a 17 percent increase in the total number of new students,” STI disclosed to the Philippine Stock Exchange.
It added that the total number of ongoing students for SY 2022-2023 reached 94,312 compared with 82,629 for SY 2021-2022, which represents a 14 percent increase.
STI said the higher enrollment mix also contributed to the profitability because more students enrolled in programs regulated by Commission on Higher Education. It added that enrollment in these CHED programs showed “a robust 18 percent increase from 56,342 students last SY to 66,309 this SY which is notably higher than pre-pandemic levels.”
