STI rebounds from loss

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STI Education Systems Holdings Inc., posted profit of P19.8 million in its first quarter ending September, a rebound from a P47.6-million loss last year.

Revenues reached P650.6 million, up 30 percent from P500.4 million last year.

“The increase was primarily driven by the 27- percent increase in the total number of students of the Group for SY (school year) 2023-2024. Gross profit likewise increased by P108.5 million or 40 percent year-on-year,” said STI, owner of the largest network of private schools in the Philippines said.

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STI said enrollments reached nearly 120,000 compared to last school year’s 94,312.

“The total count of new students for the current academic year reached 55,982, marking a 35 percent growth from 41,565 new students in the previous school year,” it said.

STI said enrollment in programs regulated by the Commission on Higher Education grew 25 percent to more than 83,000 students compared to enrollees over 66,000 last year.

“A total of 103,982 of the entire student population of 119,543 enrolled in schools operated by the STI Education Services Group. The rest were students of iACADEMY and STI WNU,” STI said.

STI’s financial year, consistent with its academic calendar, begins on July 1 and concludes on June 30 of the following year.

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