Far Eastern University profits jump 81% in 2nd quarter

FAR Eastern University, Inc. (FEU) reported an 81% rise in attributable net income to P462.631 million in the second quarter ending Nov. 30, due to a surge in college freshman enrolees.

In a regulatory filing on Monday, the listed university said its revenues during the September to November period grew 39% to P1.174 billion.

This brought FEU’s six-month attributable net income to P454.257 million, almost double the P227.7 million recorded during the same period in the previous year.

FEU said its year-to-date revenue rose 30% to P1.665 billion, driven by a 34% increase in educational revenues to P1.557 billion from freshmen enrolees. —