Navitas reaffirms 20pc growth guidance

The West Australian June 18, 2009, 1:45 pm

Perth's listed education provider Navitas has reiterated expectations its net profit will grow more than 20 per cent this year at a Merrill Lynch Emerging Companies conference in Sydney today.

Australia's largest education company said a jump in its 2009 enrolments underpinned the strong performance expected this year and earnings per share would climb.

Navitas booked a 34 per cent lift in its net profit last year to $37.4 million and in the six months to December 31 the company booked a 15 per cent rise in net profit to $19 million.

Navitas founder and chief executive Rod Jones told thewest.com.au earlier this week business continued to perform strongly despite international student unrest over attacks in Sydney and Melbourne.

He said Navitas was liaising with its students to ensure they were engaging in safe practices.

Navitas shares climbed 6¢ to $2.70 in midday trade today.

VIVIENNE RYAN

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