2017-02-16
MANILA STI Holdings, proprietor of one of the largest network of private schools in the country, posted a record high of P2.1 billion in revenues during the last nine months ending December 31, 2016about 15 percent higher than the P1.9 billion it generated during the same period in 2015.
In a disclosure to the Philippine Stock Exchange, STI Holdings said that the Company grew a nine-month net income of P624.3 millionending December 31, 2016about P97 million higher than the P527.8 million it posted during the same period of the previous year.
The nine months leading to December 31, 2016 represent STI Holdings’ third quarter performance as the Company follows an April to March fiscal year mirroring that of an academic cycle in the Philippines since the bulk of its income comes from its education services.
The Company continues to drive excellent numbers as a result of the impressive enrollment it registered this school year. For 2016-2017, STI Holdings said enrollment in schools it own breached the 100,000-mark, or a total of 103,727 students, which is 22 percent higher than the 84,730 enrollees the previous school year.Boosting the numbers are enrollees in the Senior High School (SHS) program offered by STI-branded schools, as well as iACADEMY and STI West Negros University (STI WNU). Combined, SHS students in these schools total 39,206.
On the other hand, enrollment for courses accredited by the Commission on Higher Education (CHED) is at 57,950, while students taking up Technical Education and Skills Development Authority (TESDA) courses number to 5,692. There are also 879 enrolled in the basic education offered by STI WNU.
STI Holdings also reported that assets increased to P12 billion as of December 31, 2016, up 15 percent from the P10.5 billion it had as of March 31 last year.
The schools owned by STI Holdings include those operated by its subsidiary, STI Education Services Group (STI ESG), which manages a total of 76 schools, 37 of which are owned and 39 are franchised. With the completion of the new facilities for STI Las Piñas in July 2016, STI ESG increased its total student capacity to 119,191 students.
STI Holdings also owns a university, the STI WNU, which sits on a 3.1 hectare property in the heart of Bacolod City. The university, which has a 12,000-student capacity, offers primary, secondary, tertiary, and post-graduate courses.
The Company also owns iACADEMY, the premier school in the group that specializes in course offerings in animation, multimedia arts and design, fashion design and technology, software engineering, and game programming and design. It also offers a Senior High School program and has also been granted by CHED a Government Authority to operate as a Transnational Education provider for the Master in Business Administration program in partnership with the prestigious DePaul University located in Chicago, Illinois, in the US.
Apart from these schools, STI Holdings owns Neschester Corporation, a real estate company whose major asset is a parcel of land in Makati City with an area of 2,332.5 square meters. On September 20, 2016, iACADEMY had its ground-breaking ceremony on this parcel of land, which will be the site of its Yakal campus. Land development and building construction started in December 2016.
