UPDATE 1.35pm: Shares in Navitas jumped more than 6 per cent after the education services provider released figures which showed demand for its Australian courses returning after two years of decline.
The company announced a 2 per cent increase in third semester enrolments in its courses worldwide to 13,602 equivalent full time student units (EFTSU).
Navitas said EFTSUs for its Australian colleges fell 8 per cent on the previous corresponding period, but noted new student recruitment for Australian colleges grew by 7 per cent, which it said was an indication that demand was continuing to improve for Australian university qualifications following two years of decline.
Chief executive Rod Jones said the company was seeing a trend of steady growth in Australian new student recruitment which was gradually helping to improve total student numbers from recent historic lows across the Australian college network.
"The Knight Review changes, and particularly streamlined visa processing, are starting to have a discernable positive impact, and the current forward enrolment position for 201301 is trending very positively," he said.
Navitas' Singaporean college continued its pattern of EFTSU growth, increasing enrolments by 7 per cent on the previous corresponding period.
"We are now seeing growth in new student enrolments in all regions which bodes well for Navitas' pipeline and is a testament to the commitment of our university partners and the quality educational outcomes achieved by our students," Mr Jones said.Navitas shares closed up 28 cents, or 6.83 per cent, to $4.38.
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