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Manila Bulletin devider Business devider The Stock Market devider STI more than doubles profits to P873 M

STI more than doubles profits to P873 M

Published Nov 8, 2023 07:10 am

STI Holdings, one of the biggest networks of private schools in the Philippines, more than doubled its net income to P873.8 million for the fiscal year ending June 30, 2023, from the previous year's P416.2 million.

In its annual disclosure to the Philippine Stock Exchange (PSE), the company said the 110 percent increase in net income for the year was the result of the robust increase in enrollment in School Year (SY) 2022-2023.

STI Holdings registered a total of 94,312 students for SY 2022-2023, a 14 percent or 11,683 student increase from the 82,629 enrollees in SY 2021-2022.

Additionally, there was a 17 percent rise in new student enrollment, with 41,565 students joining in SY 2022-2023 compared to 35,566 the previous year.

STI ESG's owned and franchised schools saw an influx of 81,697 students, a 12 percent increment from the previous year. 

iACADEMY and STI WNU also achieved enrollment growths of four percent and 35 percent, respectively.

Moreover, enrollees in programs regulated by the Commission on Higher Education (CHED) constituted 70 percent of the total student population in SY 2022-2023, up from 68 percent in SY 2021-2022.

Revenues from tuition and other school fees surged by P636.6 million due to the impressive enrollment growth. By the end of June 30, 2023, the tuition income stood at P3.1 billion, reflecting a rise from P2.4 billion in the same period the previous year.

STI Holdings’ consolidated gross revenues rose by 27 percent to reach P3.4 billion for the year ended June 30, 2023, a significant growth from the P2.7 billion recorded in 2022.

The company continues its mission to provide quality education, with institutions under its network prioritizing investments in faculty development and innovative solutions for enhanced student learning experiences.

In its report, STI Holdings highlighted that its faculty members regularly undergo competency-based certifications and training programs. These are designed to ensure that educators are adept in their subject matter and can effectively deliver daily lessons.

With the challenges posed by the pandemic, the training programs transitioned online during SYs 2020-2021 and 2021-2022. However, starting SY 2022-2023, the Group adopted a combination of in-person and online training.

STI ESG and STI WNU have also adapted to the changing educational landscape by implementing flexible learning modalities.

iACADEMY also introduced the Hyflex Learning Format for tertiary students in SY 2022-2023. This approach seamlessly integrates face-to-face and online learning, offering synchronous and asynchronous sessions. It also provides students with the flexibility to choose their preferred mode of participation.

For Senior High School, iACADEMY adopted a Hybrid setup, allowing a mix of onsite and online classes. The institution utilizes Microsoft Teams for online delivery and eLMS as a platform for learning materials, assessments, and grading.
 

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