STI earnings soar on higher enrollment, cost management

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.

- By RICHMOND MERCURIO

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.