2015-07-20
STI Holdings revenue breaks P2 billion mark as enrollments drive more students
MANILA, Philippines STI Holding income breached the two billion peso mark, posting a total of P2.2 billion in revenues, buoyed by yet another record turnout in enrollments.
In a regular report submitted Tuesday to the Philippine Stock Exchange, the company disclosed that the said amount, which was recorded during the fiscal year ending March 2015, was P306.3 million higher, or an increase of 16 percent, than the P1.9 billion it generated during the same period last year.
STI Holdings also reported a total of P731.4 million in net income, representing a 12 percent increase or P76.2 million higher compared to P655.2 million it posted in 2014.
STI Holdings said it attributes the strong financial performance to the increase in the number of students of STI Education Services Group (ESG) and its subsidiaries.
The total number of students of the Group increased from 76,195 last year to 80,200 students this year or an increase of 5.3 percent. Enrollment in STI WNU (STI West Negros University), which was acquired on October 1, 2013, stood at 6,466 students in school year 2014-2015 against last year 5,000 students. This number includes the students from the former STI Bacolod which has been integrated into STI WNU, it said.
Tuition and other school fees increased by P304.9 million or 19 percent from last year P1.6 billion to P1.9 billion this year. Likewise, enrollment mix was more favorable in 2015 than in 2014, as enrollment leaned more towards the Groups four-year programs, which yields more revenue per student, than the two-year programs.
Ratio for 2015 was 82 percent four-year programs and 18 percent two-year programs, as compared to 76 percent and 24 percent, respectively, in 2014, it said.
STI Holding aggressive expansion also drove up the numbers in its assets column as the company posted a total of P10 billion in assets, which is 21 percent higher than last year balance of P8.3 billion.
It said that the increase was largely due to the higher numbers recorded in the Group Property and Equipment, amounting to P5.6 billion, which was a direct result of the completion of construction and renovation of more buildings in various campuses.
The figures seem to reflect the resolve of the company to stay on course with its ambitious growth plan which was jumpstarted by the STI Holdings follow-on offering in 2012.
To date, it already completed construction of school buildings for STI Batangas, STI Calamba, STI Cubao and STI Lucena. It is also set to inaugurate in September a new 1,300-square-meter gymnasium in STI Ortigas-Cainta that will be open to both students and the general public. New classrooms were also constructed in STI Ortigas-Cainta, STI Novaliches and STI Caloocan as student population increase.
In the same manner, two parcels of land in Bulacan with a total land area of 4,178 square meters were acquired for P154.4 million in April 2014. The company said plans are underway to construct a campus there.
Apart from these expansion projects, campuses under STI ESG, iACADEMY, and STI WNU are also set to offer senior high school programs with popular tracks under the K to 12 program, namely academic, technical-vocational, and the arts.
STI Holdings is included in the list of top 50 Philippine-listed companies evaluated under the ASEAN Corporate Governance Scorecard in 2014. The top listed companies from six participating ASEAN member-countries were evaluated based on the international standards of corporate governance, including the five Organization for Economic Cooperation and Development principles of corporate governance.
The company is one of the 60 publicly-listed companies that have made it to the latest cut of the PSE Shariah-compliant firms, as of end-March 2015, following a screening of 260 listed firms assessed for their compliance with the rules, regulations, teachings, and values that govern the lives of Muslims.
