Navitas Limited (ASX:NVT) has confirmed it is in ongoing talks with a number of potential partner universities, including some in America.
The global education services provider made the statement in response to reports claiming it expects to reveal a partnership with a sixth institution in the US as early as this week.
While Navitas has not denied the speculation it says these negotiations are ongoing and incomplete. The company says it will update the market on the discussions when negotiations are concluded and a legally binding agreement is executed.
The reports come after Navitas this week posted a 31 per cent annual profit drop on the back of write downs largely from its university programs division.
Earlier this month the company also suffered a hit when Macquarie University pulled out of their 18-year partnership.
Navitas reported a net profit of $51.6 million in the 2014 financial year.
