STI Education Systems Holdings Inc. (STI Holdings), a leading education and investment firm owned by businessman Eusebio Tanco, said Wednesday net income for the fiscal year ending June 30, 2024 grew 84 percent to P1.6 billion from P873.8 million in the previous year.
STI Holdings, in a disclosure to the stock exchange, attributed the increase to higher enrollment this school year and effective cost-management across its schools.
It said that during the school year 2023-2024, total enrollment reached 119,543, up 27 percent from 94,312 in the previous year.
New student enrollment increased 35 percent, with the addition of 55,982 new students compared to 41,565 new students last year.
STI Holdings, through unit STI Education Services Group (STI ESG), operates 63 campuses nationwide.
STI West Negros University (STI WNU) in Bacolod City saw a 30-percent enrollment growth, reaching 13,328 students, while iACADEMY, known for its technology and design programs, maintained 2,233 enrollees.
Enrollment in CHED-regulated programs grew by 25 percent, while programs under the Department of Education (DepEd) also expanded, with 34,709 students enrolled in primary and secondary levels, a 31-percent increase.
Gross revenues of STI Holdings climbed 38 percent, totaling P4.7 billion, compared to P3.4 billion in 2023.
STI Holdings said it continues to invest in infrastructure as it recently completed the construction of a new school building at STI WNU. It also started construction of STI Ortigas-Cainta and STI Lipa.
It also acquired two properties in Tanauan, Batangas and South Park District in Alabang, Muntinlupa City for future academic centers.
The expansion is part of STI’s long-term strategy to enhance educational access in key cities throughout the Philippines.
STI reported in February that is acquiring the Philippine School of Business Administration (PSBA).
Founded in October 1963, PSBA started as a review and training center for certified public accountants. In 1966, it started to offer baccalaureate programs in business administration.
