FEU saw its nine-month net income rise by 69.24% to P302.57 million from year-ago levels on the back of higher revenues and enrollment figures, according to its latest financial statement.

Revenues from education services grew by 10.93% to P1.02 billion while operating expenses barely increased to P874.02 million from P866.92 million.

FEU tuition reportedly rose by an average of 4.5% for the academic year 2011 to 2012, higher than the 3.5% hike in the previous academic year.

For October to December alone, FEU said it enjoyed a 79.14% increase in its net income to P65.54 million.

“With the proper management of resources, we expect that operating profit will again improve this year. We also expect our branch enrollment to be higher in the succeeding years,� FEU said.

CEU, on the other hand, saw its lower expenses offset flat revenues, bringing its net income for the nine-month period up by 13.39% to P248.12 million.

Total revenues last year slipped was nearly unchanged at P1.03 billion from P1.04 billion in year-ago levels, with a bulk contributed by its main branch in Mendiola, Manila.

General and administrative expenses shrank by 4.97% to P780.07 million versus P820.86 million.

This, even as CEU approved several renovation and expansion projects for the 2011-2012 academic year, including the renovation of its student records and management department, as well as the construction of special classrooms for its nutrition and banking courses.

For October to December alone, CEU enjoyed a 29.62% net income rise to P128.32 million from year-ago levels. — Franz Jonathan G. de la Fuente