(In the story “STI Holdings H1 net income up 12% at P731.4M” published on July 15 on this page, the figures are for the fiscal year ending March 2015, not the first semester of 2015 as previously reported. Following is a corrected version:)
LISTED schools operator STI Holdings Inc. posted a 12 percent increase in net income for the fiscal year ending March 2015 to P731.4 million from P655.2 million a year earlier on the back of higher student enrollments.
In a regulatory filing, STI said revenues from April 2014 to March 2015 climbed by 16 percent to P2.2 billion from P1.9 billion in the year-earlier period.
(The rest of the story remains the same as follows:)
“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,” STI said.
“Enrollment in STI West Negros University (WNU), which was acquired in October 2013, stood at 6,466 students in school year 2014-2015 against last year’s 5,000 students. This number includes the students from the former STI Bacolod, which has been integrated into STI WNU,” it added.
Tuition and other school fees rose 19 percent to P1.9 billion from P1.6 billion in the previous fiscal year. The revenue mix comes from the 72 percent share of the four-year program enrollments, and 18 percent from the two-year programs.
The company has allotted P5 billion in capital expenditures this year for expansion and land acquisition.
With the expansion program, STI Holdings sees capacity growing to 45,000 students from 41,000.
Chaired by Eusebio Tanco, STI Holdings also operates STI colleges nationwide as well as iACADEMY and the Makati Medical Center College.