Navitas Increases Net Profit

Private education provider, Navitas (ASX:NVT) a company which provides of pre-university and university programmes for domestic and overseas students has announced a 31 percent increase in net profit. Navitas net profit for the year to June 30 was $64.3 million, up from $49.2 million in the previous corresponding period.

Navitas Dividends

The publicly listed Perth based, Australian company offers university preparation, English language training, workforce training and migrant settlement services. The company declared a final dividend of 10.7 cents per share, up from 8.8c a year ago.

Navitas Business Growth

Navitas business growth was driven by strong demand for education services in Navitas's markets in Australia, the United States, United Kingdom, Africa, Sri Lanka, Singapore and Canada. Seven new university programs colleges are due to open in the current financial year, set to reach operational break-even within 18 months of opening, Chief Executive Rod Jones said. Navitas plans to open between two and four new colleges each year beyond 2010/11.