Far Eastern University (FEU) of the family of bilyonaryo Aurelio “Gigi” Montinola, finished its fiscal year ending in May on a high note, with earnings rising by nearly a quarter on the back of robust revenues.
FEU reported a 23 percent jump in its attributable earnings to P1.89 billion as revenues grew 20 percent to P4.94 billion.
The surge in higher educational revenues was attributed mainly to the growth in student population, with a favorable mix due to a significant influx of new students in tertiary programs.
FEU maintained its commitment to affordability, as there was no tuition fee increase for the third straight year.
As the academic institution prepares for the 2023-2024 school year, it anticipates further growth in the student population, albeit at a slightly lower rate compared to previous years.
“With its well-structured academic core operations and administrative support functions, which have withstood the negative effects of the pandemic, the group is optimistic that it will maintain its strong financial position and continue to deliver sound operating results,” FEU said.