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Navitas Ltd (ASX:NVT) has posted a 31% increase in annual net profit to $64.3 million and says it anticipates solid earnings growth ahead.
The education services provider says earnings before interest, tax, depreciation and amortisation were up 25% to $96.7 million for the year ending 30 June 2010.
CEO Rod Jones says growth in student numbers and increases in revenue has boosted the company's confidence in returns expected from new investments.
Mr Jones advises that during the year Navitas secured eight additional colleges across new and established markets.
Navitas has declared a fully franked full year dividend of 18.8 cents, up 31% from the previous year.
The final dividend of 10.7 cents per share will be paid on 31 August.
Navitas reported a net profit of $49.19 million for the year ended 30 June 2009.
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