STI profit surges 4-fold to P416 million

MANILA, Philippines — Listed school network STI Education Systems Holdings Inc. reported an annual net income of P416.2 million for fiscal year 2022, up 309 percent from a year ago.

This as consolidated gross revenues hit P2.7 billion, up 28 percent compared to P2.1 billion a year ago, STI Holdings said in a disclosure to the Philippine Stock Exchange (PSE) yesterday.

Of the amount, tuition and other school fees amounted to P2.4 billion, up by P554.3 million from P1.9 billion a year ago, as 18 percent more students enrolled last year.

The entire STI network’s total enrollment reached 82,629 students, 12,406 higher than the 70,223 enrollees for school year 2020 to 2021.

Gross profit increased to P1.7 billion for the year ending June 30, 2022 from P1.2 billion in the same period last year.

STI Holdings’ fiscal year starts on July 1 of every calendar year and ends on June 30 of the following calendar year.

Schools under the network contributed to the improved bottom line.

At the same time, the company said it continuously invests in faculty as well as solutions to providing better quality of education for students.

STI Education Services Group and STI West Negros University continued to implement the ONline and ONsite Education at STI, or ONE STI Learning Model that was introduced last school year.

In this model, the school network uses digital tools and online technology combined with invaluable hands-on practice and onsite engagements to achieve the students’ academic objectives through a responsive learning experience.

iAcademy, meanwhile, started to implement its full online learning program last year with systematic approach to guiding all the activities that involve the delivery of online instruction to the students, including online learning workshops, training for teachers on how to create high-quality modules, integrating project-based learning and teaching strategies into online learning, internationalization, and collaborating with parents and guardians.