MANILA, Philippines — Earnings of STI Education Systems Holdings Inc. soared by more than half for the fiscal year ended June 30, 2024 on the back of higher enrollment and efficient cost management across its schools.
The owner of the largest network of private schools in the country reported an 84-percent surge in its net income to P1.6 billion during the review period from the previous year’s P873.8 million.
Gross revenues reached P4.7 billion for the fiscal year, up by 38 percent from P3.4 billion in 2023 due primarily to higher enrollment numbers which resulted in a P1.2-billion increase in tuition and other school fees.
STI Holdings saw enrollment for the school year 2023 to 2024 jump by 27 percent to 119,543 from 94,312 in the previous school year.
Its schools, likewise, registered a 35-percent rise in new students, with 55,982 enrollees joining for the current school year.
Enrollment at STI Education Services Group, which operates 63 campuses nationwide, grew by 27 percent year-on-year, with 103,982 students across its owned and franchised schools.
STI West Negros University in Bacolod City reached 13,328 students for school year 2023 to 2024, while iACADEMY maintained a solid presence with 2,233 enrollees.
As part of its continuing investments in infrastructure development across its campuses, STI Holdings said it recently completed the construction of the School of Basic Education building at STI West Negros University alongside the construction of new buildings in STI Ortigas-Cainta and STI Lipa.
Also completed were classroom expansion and renovation projects at various STI Education Services Group-owned schools.
“These projects are part of the group’s ongoing efforts to enhance the learning environment for students and faculty,” STI Holdings said.
STI Education Services Group likewise introduced sustainability initiatives such as the installation of solar panels on several campuses, reduction of its its carbon footprint and managing operational costs more efficiently.
Two key properties in Tanauan, Batangas and South Park District in Muntinlupa City were also secured by the company to house future academic centers.
“The establishment of new campuses is part of STI’s long-term strategy to expand its presence in key cities across the Philippines, providing more students with access to high-quality education,” the company said.