STI Education Systems Holdings, Inc. reported an 18% increase in enrollment for this school year, which totaled 82,629 compared with last year’s 70,223 after a 40% climb in students signing up for college.
In a disclosure to the exchange on Tuesday, the listed educational institution said it saw 56,342 students enroll in its tertiary education programs for the school year 2021 to 2022, up from the 40,176 logged in the previous school year.
“The significant growth in significant growth can be attributed to the group’s consistent enrollment strategies, aggressive recruitment, and innovative online learning delivery and world-class curriculum that are responsive to the trends and challenges in the country’s educational landscape,” STI Holdings President and Chief Executive Officer Monico V. Jacob said.
STI Holdings starts its fiscal year on July 1. For its first quarter, STI Holdings trimmed its net attributable loss to P114.23 million, 44% lower from the P202.64 million logged in the same period last year.
The increase in enrollment pushed STI Holdings’ gross profit higher by 61% to P186.9 million from P115.8 million. Its topline posted a 27% growth to P375.26 million from P296.64 million.
Bacolod-based STI West Negros University, Inc. posted the biggest enrollment increase among STI institutions, logging a 36% growth with 7,580 students enrolled this school year from 5,584.
STI Holdings said classes for its tertiary and senior high school students of STI Education Services Group (STI ESG) and STI WNU began on Sept. 13, while STI WNU’s School of Graduate Studies began on Oct. 2.
All classes are still conducted online through STI’s ONline and ONsite Education at STI (ONE STI) Learning Model for the STI ESG and STI WNU, while the Guided Online Autonomous Learning program is used for iAcademy.
STI shares at the local bourse on Tuesday went up by 2.94% or one centavo to close at 35 centavos per share. — Keren Concepcion G. Valmonte