Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

FEU’s first-quarter net loss widens to P99.76M

FAR EASTERN UNIVERSITY FB PAGE

LISTED educational institution Far Eastern University, Inc. (FEU) reported an attributable net loss of P99.76 million for the first quarter of its fiscal year ending May, widening from P73.09 million last year.

First-quarter revenue increased 6% to P616.1 million from P581.25 million as educational revenue surged on better enrollment during the midyear term, FEU said in a stock exchange disclosure on Monday.

However, operating expenses increased by 15% to P753.54 million due to accruals and the earlier timing of certain costs.

Operating loss rose by 80% to P137.44 million.

“First-quarter operations usually result in an operating loss due to the seasonality of tuition revenue recognition. This starts to normalize the following quarter at the onset of first-semester classes in the month of August,” FEU said.

FEU remains optimistic about maintaining a healthy financial position and sound academic operations for the 2024-2025 school year.

“Operationally, student enrollment grew 2%, with greater growth in basic education than in tertiary due to demographic dynamics. Efficiency through effective cost monitoring will remain to be the norm, yet all academic excellence and core student service initiatives are of high priority,” it said.

“Management continues to take a conservative outlook of the economy and a prudent stance in the implementation of investment and overall operational plans,” FEU added.

The company 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. 

On Monday, FEU shares dropped 8.4% or P66 to P720 per share. — Revin Mikhael D. Ochave

    You May Also Like

    Stock Markets

    THE PHILIPPINE Business for Education (PBEd) asked the new Department of Interior and Local Government (DILG) secretary to mobilize local government units (LGUs) to...

    Stock Markets

    PHILIPPINE STAR/ MICHAEL VARCAS THE World Bank (WB) said it returned a “satisfactory” rating on progress made by the Department of Agriculture in enhancing...

    Finance

    The Confederation of British Industry (CBI) has urged Chancellor Rachel Reeves to introduce significant tax cuts for electric car, heat pump, and biofuel manufacturers...

    Finance

    Angela Rayner, Deputy Prime Minister, is set to grant an additional 9 million UK workers the right to sue their employers for unfair dismissal...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Captain Of Success. All Rights Reserved.