Navitas records profit despite fewer students

Company News

by David Chau

Education provider, Navitas Ltd’s (ASX:NVT) net profit for FY16 has increased by 25% to $90.1 million, compared to the previous year.

The company says this result was in line with guidance, and was achieved despite a number of colleges closing, and a fall in student numbers.

The company has also declared a fully franked final dividend of 9.9 cents per share, which takes its full year dividend to 19.5 cents per share.

Navitas also announced its chairman, Harvey Collins, will retire at the AGM in November, and will be replaced by Tracey Horton, who is currently the company director.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.