Navitas
(ASX:NVT) has reported its net profit after tax, attributable to members fell to $80.32 million for FY17, compared $90.08 million in FY16.
The company says its results were impacted by the closure of Macquarie and Curtin Sydney colleges and a tough UK environment, coupled with adverse foreign exchange movements.
The education provider’s underlying EBITDA fell 11 per cent to $155 million in FY17, down from the prior corresponding period.
Meantime its revenue also saw weakness, dropping 10 per cent on the prior corresponding period to $574.1 million.
It also declared a full year dividend of 19.5 cents per share for FY17, on par with last years (FY16).
Shares in Navitas
(ASX:NVT) are trading 14.29 per cent lower to $4.26.
