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Navitas chief executive, Rod Jones at the companys Mt Pleasant office.Pic by Guy Magowan, The West Australian, Aug 2. FAIRFAX ONLINE OUT.
The West Australian Navitas chief executive, Rod Jones at the companys Mt Pleasant office.Pic by Guy Magowan, The West Australian, Aug 2. FAIRFAX ONLINE OUT.

Education services provider Navitas has posted a slightly softer first half profit of $35.1 million, down 1 per cent on the previous corresponding period.

The result was achieved on revenue of $355.4 million, up 4 per cent on the previous year.

The company will issue a fully franked interim dividend of 9.3 cents, down from 9.4 cents previously.

Navitas said its operating environment was gradually improving after several years of strong headwinds.

Chief executive Rod Jones said the company's financial results for the half year remained affected by the longer term effects of regulatory and policy change in Australia.

"Enrolments and earnings have returned to growth in the UK following a similar period of policy change," he said.

"Student enrolments continue to improve in our core University Programs Division as planned but the benefits are yet to materially show in our financial results due to the lag associated with the effect of lower enrolments in previous periods."

Navitas said it had completed a strategic and structural review and commenced implementation of key recommendations, which aimed to prepare the company for future growth opportunities.

Mr Jones said the company was predicting an improved performance in the second half and further growth in 2014, as student volumes continued to grow across core divisions and margins improved.

Navitas shares were off 11 cents, or 2.22 per cent, to $4.84 at 7.40am.