News: Navitas FY14 profit drops after write-downs

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Navitas Limited (ASX:NVT) has reported a 31 per cent fall in full year profit but a 20 per cent rise in revenue and forecast earnings growth in the year ahead. 

 

The global education services provider booked a net profit of $51.6 million in fiscal 2014 on the back of write downs largely from its university programs division. 

 

Looking ahead Navitas expects EBITDA to grow to between $162 million and $172 million in the current 2015 fiscal year from almost $145 million in fiscal 2014. 

 

A final dividend of 10.1 cents per security has been declared, taking the full year payout in-line with last year’s at 19.5 cents per share.