Record enrollment drives FEU earnings 24% higher

Far Eastern University reported Thursday it recorded a net profit of P1.89 billion in its fiscal year-ended May 31, a 24 percent increase from the previous year, helped by an increase in enrollment and gains from investments.

Gross revenues were up 20 percent to P4.98 billion while operating income rose 19 percent to P1.66 billion.

“Educational revenues grew by 20 percent mainly on account of the increase in student population, with a favorable mix as a significant portion of the new students were in tertiary. There was no tuition fee increase for the third straight year,” the school reporter.

FEU recorded its highest ever first-semester enrollment of 50,281 students, and expects that number to grow further this year school year although not at the 13 percent level seen last school year.

“The Group is optimistic that it will maintain its strong financial position and continue to deliver sound operating results. For the SY 2023-2024, the Group still expects an increase in student population albeit lower than the increases of the previous years,” it said.

FEU said the past school year also provided it with new partnerships with the completion of investments in Good Samaritan Colleges in Nueva Ecija and in JPMC College of Health Sciences in Brunei—its first overseas nursing school.

Seyrel Investment and Realty Corp of the Montinola family and Sysmart Corp. of the family of the late tycoon Henry Sy together control a combined 50.56 percent of FEU. The Sy family also holds a stake in National University.