Navitas lifts full-year profit

Group expects growth in Aust business to improve performance further in FY14.

Navitas Ltd has posted a slight lift in its full-year net profit, buoyed by its international operations, but expects its domestic business to experience considerable growth in the year ahead.

In the full year to June 30, Navitas posted a net profit of $74.575 million, a 1.6% lift on the $73.149 million recorded in fiscal 2012.

In the same period, revenue was $731.73 million, a six per cent  rise on the $688.5 million recorded in the previous year.

The group will pay a fully-franked full-year dividend of 19.5 cents, identical to the previous year.

Navitas group chief executive officer Rod Jones said while most offshore markets performed well the key Australian market only recently returned to total enrolment growth which meant the full financial benefits were not realised in the fiscal 2013.

"We anticipate that volume growth combined with price increases recorded in recent months and favorable direct and indirect currency impacts will provide the division with significant opportunities in fiscal 2014 and beyond," he said.

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