Through making quality education accessible to
underserved students across the Philippines and Indonesia, PHINMA Education
posted a 30% increase in second semester enrollment versus the same period last
year. This resulted in a 52% year-on-year growth in revenues for the first half
of 2023.
The network also reported that consolidated
net income tripled to P307.47 million in the first half of 2023 compared to
P96.88 million during the first half of 2022. Increase in costs and operating
expenses to support the increase in enrollment and face-to-face classes were
offset by lower credit loss provisions as a result of higher collection efficiencies.
Currently composed of ten schools serving over
124 thousand students, PHINMA Education is committed to improving student
success across a number of areas, including retention, licensure exam passing
rates, and employability. It boasts a 79.06% passing rate for first-time takers
across various licensure exams. 71% of its graduates are employed within one
year of graduation, a number expected to rise as the economy recovers.
To prepare for an increasing number of
students who are taking their classes in person, PHINMA Education recently
opened PHINMA COC Iligan Campus, PHINMA Araullo University (AU) San Jose
Campus, and a Dentistry building in SWU PHINMA. It also completed renovations
in PHINMA Saint Jude College Quezon City (SJC QC), PHINMA Rizal College of
Laguna (RCL), and Horizon Karawang in West Java, Indonesia. Another new
building is underway in PHINMA University of Pangasinan (UPang).
“This year is a convergence of our model
continuing to show promise, the growing need for the services we provide, and
our business doing well on all aspects. We hope to be able to reach more and
more underserved students who need quality education the most, so that they can
uplift themselves, their families, and communities,” said PHINMA Education
President and CEO Dr. Chito Salazar.
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