By Leslie D. Venzon
MANILA, July 15 (PNA) — Listed STI Education System Holdings, which owns a network of schools nationwide, posted a 12-percent increase in net income in fiscal year ending March 2015 on the back of higher enrollment figures.
In a disclosure to the Philippine Stock Exchange, STI Holdings said profit reached Php731.4 million from Php 655.2 million it posted in 2014.
Its revenues also soared 16 percent from Php1.9 billion to Php2.2 billion.
“The total number of students of the Group increased from 76,195 last year to 80,200 students this year or an increase of 5.3 percent,” it said.
STI Holdings’ aggressive expansion also drove up the numbers in its assets column as the company posted a total of Php 10 billion in assets, which is 21 percent higher than last year’s Php 8.3 billion.
To date, it already completed the construction of school buildings for STI Batangas, STI Calamba, STI Cubao and STI Lucena.
It is also set to inaugurate in September a new 1,300-square-meter gymnasium in STI Ortigas-Cainta that will be open to both students and the general public.
New classrooms were also constructed in STI Ortigas-Cainta, STI Novaliches and STI Caloocan as student population increased. (PNA)