Navitas posts FY18 after tax loss of $55.3m

Company News

by Anna Napoli

Navitas (ASX:NVT) has announced an after tax loss of $55.3m for the 2018 financial year.

Group Revenue was down 3 per cent the prior corresponding period to $931 million.

Its group earnings (EBITDA) decreased 47 per cent on the prior year to $82 million

Navitas declared a full year dividend of 17.4 cents.

The global education provider says the loss was significantly affected by $123.5 million one-off charges associated with recently announced plans to rationalize the business portfolio of the careers and Industry Division.

Shares in Navitas (ASX:NVT) are trading 3.82 per cent higher to $4.35.