LISTED educational institution Far Eastern University, Inc. (FEU) expects earnings growth to be sustained in the second half of its fiscal year ending in May.
鈥淭he group remains optimistic that it will sustain its sound financial position and positive results of operations in the second half of the school year 2024-2025,鈥 FEU said in a regulatory filing on Tuesday.
鈥淢anagement continues to take a conservative outlook on the economy and a prudent stance in the implementation of its overall operational plans,鈥 it added.
FEU said this after the company鈥檚 first-half net income (June to November) rose by 7% to P651.4 million from P608.6 million the previous year.
The company鈥檚 six-month revenue during the period rose by 7% to P2.34 billion on higher tuition fee revenue.
Operating expenses likewise climbed by 16% to P1.78 billion on account of accruals and earlier recognition of certain operating expenses.
鈥淭he group鈥檚 six-month results for the school year 2024-2025 remain strong, backed by a healthy core operation which benefits from the increase in student population and effective cost management initiatives,鈥 FEU said.
鈥淥perating cash flows remain stable, and earnings are expected to be sustained in the next half of the year,鈥 it added.
FEU operates Far Eastern University in Manila and is the majority shareholder of East Asia Computer Center, Inc., FEU Alabang, Inc., Far Eastern College Silang, Inc., FEU High School, Inc., and Roosevelt College, Inc.
The company鈥檚 shares were last traded on Jan. 13 at P780 per share. 鈥 Revin Mikhael D. Ochave
