PHINMA Corp.’s education business fueled its performance in the first half of the year, helping the company remain profitable despite a softer economy and losses in its property and construction materials segments.

The company reported on Monday a consolidated net income of P363.35 million and attributable net income of P20.11 million, on revenues of P9.55 billion from January to June.

PHINMA Education Holdings Inc. emerged as a key earnings contributor, with revenues of P3.12 billion and consolidated net income of P819.75 million.

The education unit benefited from sustained enrollment growth during the second semester of School Year 2025-2026 and the summer term, alongside cost-management initiatives to keep education affordable for low-income students.

PHINMA Education also reported overall first-time board passing rates of 92 percent in the Philippines and 99 percent in Indonesia.

The education business helped cushion the impact of a weaker economic environment, as tensions in the Gulf region contributed to foreign exchange volatility, higher borrowing costs and cautious spending. Delays in government spending and slower construction activity also weighed on the domestic market.

PHINMA’s construction materials segment generated combined revenues of P5.28 billion but recorded a net loss of P35.59 million.

The segment continued to focus on operational efficiency and margin improvement while expanding capacity, including Philcement’s operations in Mindanao and Union Insulated Panel’s upcoming manufacturing facility in Porac.

The property business faced greater pressure, with PHINMA Property Holdings Corp. posting revenues of P698.02 million and a net loss of P378.64 million.

Regional developments, led by the Saludad Township in Bacolod, partially offset the slowdown in Metro Manila’s residential market.

Hospitality remained profitable, generating revenues of P300.30 million and net income of P27.20 million, supported by domestic leisure travel and corporate demand.

“In the first half of the year, our Strategic Business Units continued to adapt to challenging industry conditions and a softer economic environment,” PHINMA Corp. Chairman and CEO Ramon R. del Rosario, Jr. said.

“As we build on this progress, we look forward to key milestones in the months ahead, including the opening of the Panabo cement facility and the Porac insulated panels plant, as well as the continued growth in student enrollment across our schools,” he added.

As of the end of June, PHINMA had P4.72 billion in cash and cash equivalents, P62.46 billion in total assets, and P18.92 billion in stockholders’ equity.