FEU’s net income falls 10.2% despite revenue growth
LISTED EDUCATIONAL institution Far Eastern University, Inc. (FEU) reported a 10.2% decrease in its attributable net income for the third quarter (December to February) of its fiscal year ending in May, amounting to P647.49 million, down from P721.27 million in 2024, despite a revenue increase.
Revenue grew by 4.9% to P1.60 billion from P1.52 billion year-on-year, according to a regulatory filing.
Tuition fee revenue saw a 9.8% rise to P1.52 billion, while operating expenses decreased by 4.9% to P863 million.
For the first nine months of the fiscal year, attributable net income declined by 2.7%, totaling P1.28 billion, down from P1.31 billion in the same period last year.
Revenue for the period increased by 7% to P3.92 billion, driven primarily by a 7.9% growth in tuition fee revenue to P3.74 billion.
“Educational revenue streams were sustained through the first nine months of the fiscal year, showing a 7% increase compared to the same period last year,” FEU said.
“The group-wide student population remained stable despite a modest tuition fee increase at the start of the school year,” it added.
Operating expenses increased by 8% to P2.64 billion, attributed to the timely recognition of operating expenses and higher personnel costs, as well as investments in technology to support the growing student base.
FEU now serves 60,000 students across its education system. “The educational revenues earned, along with enrolment numbers, continue to show steady and sustainable growth,” the company said. “Despite challenges, the revenue stream remains stable due to the strong market acceptance of the FEU brand of quality education,” it added.
The company operates Far Eastern University in Manila and holds a majority stake in East Asia Computer Center, Inc., FEU Alabang, Inc., Far Eastern College Silang, Inc., FEU High School, Inc., and Roosevelt College, Inc.
FEU shares last traded on April 8, closing up by 1.05%, or P8, at P770 per share. — Revin Mikhael D. Ochave
