PHINMA Corp. aims to grow its business in 2023

PHINMA Corp., a Filipino conglomerate operating Southwestern University Phinma in Cebu City and other ventures across the country, is setting its sights on business expansion in the coming months.

The company is optimistic about achieving substantial growth, as both the local and global economies continue to recover from the Covid-19 pandemic.

In the first quarter of 2023, Phinma Corp. reported consolidated revenue of P4.78 billion, a six percent increase compared to the same period last year.

In a statement to the Philippine Stock Exchange, the company said total assets as of March 31, 2023, amounted to P32.52 billion, while its total stockholders’ equity was P11.36 billion.

Phinma Corp. is anticipating sustained growth throughout the year across its various business units, and it is particularly bullish on the vast untapped market outside Metro Manila.

For one, Phinma Education, one of the company’s core business units, is aiming to maintain its robust enrollment growth trajectory in the academic year 2023-2024. To accommodate the projected demand, the company has initiated several capacity expansion projects. (PR)