English language courses group Navitas says its annual profit is set to grow, boosting its share price.
The global colleges firm, which operates in nine countries including Australia, says it's on track to deliver a full year profit of between $138 million and $148 million.
Navitas said net profit rose by three per cent to $36.1 million in the six months to December 31, up from $35.1 million during the equivalent period in 2012.
Chief executive Rod Jones says the company is expecting strong growth in 2014/15 as significant investments are made during this financial year.
"The underlying Navitas operating model remains intact," he said in a statement.
"As such we are confident that leverage from anticipated revenue growth in 2015 and beyond will deliver sound margin growth."
Navitas shares gained 14 cents, or 2.2 per cent, to $6.57.
Its revenue rose by 19 per cent to $421.9 million in the first half of the current financial year, as student enrolments increased in Australia, the UK, US and Canada.
But student numbers fell in the Asian and African colleges, where Navitas runs courses in Singapore, Sri Lanka, Indonesia and Kenya.
Share
