STI Holdings said profit for its third quarter grew 10 percent to P152.6 million, from the P138.7 million reported a year ago.
Revenues rose 5 percent to P813.2 million, from P771 million last year.
“The increase was due to the improvement in the mix of students enrolled. A total of 55 percent or 45,902 of the group’s 83,967 total student population are enrolled in programs regulated by the Commission on Higher Education (CHED),” STI Holdings said.
“Last school year’s percentage of students enrolled in CHED programs was at 50 percent,” it added.
The company said earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.4 percent to P377 million, from P332.5 million last year. EBITDA margin grew to 46 percent from 43 percent.
Operating income amounted to P187.3 million, up 5 percent from P177.6 million.
Assets also grew 5 percent to P15.6 billion, from P14.8 billion as of end-March 2019.
STI Holdings’ fiscal year begins in April and ends in March of the following year, which is aligned with the schools’ academic calendars.
For school year 2019-2020 though, the opening of classes was moved to July from June.
STI Holdings has three subsidiaries involved in education: STI Education Services Group (STI ESG), STI WNU and iACADEMY.
STI ESG’s network of schools totals to 76 — with 38 owned schools and 38 franchised schools — comprising of 69 colleges and seven education centers.
