STI Holdings reports Q3 profit as student enrollment surges

STI Education Systems Holdings Inc., managed by the Tanco group, has reported a significant turnaround in its financial performance, with a third-quarter net income of P19.8 million. This marks a substantial recovery compared to the P47.6 million loss recorded in the same period last year. The company attributes this positive shift to a considerable increase in revenue, which reached P650.6 million, and a surge in student enrollment for the school year (SY) 2023-2024.

The enrollment figures have been particularly impressive, with new student enrollments jumping by 35% to 55,982. The fiscal year of STI Holdings is aligned with the academic calendar, running from July to June of the following year. The company’s assets have also seen an upward trajectory, closing at P16.7 billion in September, bolstered by increased receivables and cash equivalents. Despite these positive developments, the stock price has remained steady at P0.465.

A significant portion of the enrollment growth can be attributed to programs regulated by the Commission on Higher Education (CHEd), which experienced an increase of over 25%, with more than 83,000 students. The overall student body across STI Education Services Group schools has nearly reached 120,000. The educational conglomerate includes a diverse array of institutions, such as iACADEMY and STI West Negros University (STI WNU), which have contributed to the robust enrollment numbers.

The company’s gross profit also saw a substantial increase of 40%, signaling a strong start to their fiscal year which commenced on July 1st. This financial uptick has been closely linked to the growth in student numbers and the subsequent rise in revenue. The educational group’s focus on expanding its reach and improving the quality of education appears to be paying dividends, as evidenced by the latest financial reports and enrollment data.

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