News: Navitas 1H profit lifts

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Navitas Limited (ASX:NVT) has posted a slight lift in first half net profit of $36 million. 

 

The educational services provider’s revenue rose 19 per cent to $422 million in the six months to December 31, after an increase in student enrolments across all divisions.

 

Underlying revenue growth hit 14 per cent when adjusted to the exchange rate.

 

EBITDA grew 6 per cent to $63.2 million, after the company’s investment in future growth. 

 

CEO Rod Jones says the result demonstrates the recovery taking place across the group and in its university program division in particular.