Strong enrollment numbers continued to drive earnings at STI Holdings Inc., owner of the largest network of private schools in the country.
In its nine months ended 31 March, STI Holdings posted net income of P1.1 billion, up 93 percent from P579.3 million in the year-earlier period.
Gross revenue rose 38 percent to P3.4 billion while gross profit reached P2.4 billion. Gross profit margin improved to 70 percent from 68 percent.
STI Holdings said total enrollment increased 27 percent year-on-year to almost 120,000 from 94,312 in the year-earlier period. A total 83,000 of the enrollees are in programs regulated by the Commission on Higher Education.
Educational institutions under STI Holdings are mostly STI-branded being operated by STI Education Services Group Inc. Sixty colleges and three educational centers are under STI ESG’s wing.
STI Holdings also owns iACADEMY and STI WNU in Bacolod City.
