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Centro Escolar University fiscal Q3 profit climbs 60.5% YOY

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Centro Escolar University fiscal Q3 profit climbs 60.5% YOY

Centro Escolar University said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 21 Philippine centavos per share, an increase of 58.7% from 13 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 78.3 million pesos, an increase of 60.5% from 48.8 million pesos in the prior-year period.

The normalized profit margin climbed to 16.5% from 10.7% in the year-earlier period.

Total revenue grew on an annual basis to 473.8 million pesos from 455.2 million pesos, and total operating expenses declined 7.3% from the prior-year period to 348.8 million pesos from 376.1 million pesos.

Reported net income grew 66.8% from the prior-year period to 116.7 million pesos, or 31 centavos per share, from 70.0 million pesos, or 19 centavos per share.

As of Feb. 11, US$1 was equivalent to 44.44 Philippine pesos.