Far East­ern Uni­ver­sity prof­its jump 81% in 2nd quar­ter

Business World - - Corporate News - Denise A. Valdez

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. —

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