Eusebio Tanco’s STI Holdings more than triples profit
Tanco-led STI Holdings said its net income grew more than three-fold last year to P258.7 million as higher enrollment pushed revenues higher.
In a statement, STI said gross revenues went up five percent t P2.2 billion. Bulk of the company’s income comes from education services.
In July 2017, subsidiary STI Education Services Group, which manages STI-branded schools, sold its 20 percent stae in Maestro Holdings to allow it to focus on its core business of providing quality educational services.
STI ESG recently acquired parcels of land in Lipa and Legaspi, amounting to P99.1 million and P76.4 million, respectively.
It is set to complete the construction of campuses in Malaybalay, Bulacan, Lipa, Sta. Mesa, Pasay-Edsa, and San Jose, Del Monte, in time for the influx of college freshment who took p two years of senior high school under the government’s K to 12 program.