Foreign students are once again turning their eyes to Australia, with the number of enrolments at international education provider Navitas increasing by five per cent.
New student enrolments in Navitas' Australian programs increased by 15 per cent to 14,744 for the second semester of 2013.
"Australia is once again looking very attractive to international students," Navitas chief executive Rod Jones said on Tuesday.
The company reported net profit rose two per cent to $74.6 million for the 12 months to June 30, up from $73.1 million a year earlier.
Total revenue jumped six per cent to $731.7 million.
Much of that growth came from its lucrative internship program which places foreign students and graduates in Australian workplaces.
Revenue from this division grew by four per cent to $196.4 million.
Mr Jones said the return of student enrolments to previous growth rates have helped the company turn around.
"After a downturn in total Australian enrolments that has lasted three years, we are delighted to be reporting a return to growth."
Last year its net profit fell 5.5 per cent to $73.1 million, in contrast to 2011 when Navitas profits grew 20.5 per cent to $77.39 million.
"We continued to recover from the largely policy-driven headwinds of the last few years," Mr Jones said.
The Perth-based company's full-year earnings have also benefited from higher university fees in Australia and the government's revision of student visa rules.
These factors, combined with a lower Australian dollar, created a positive outlook for 2014, Mr Jones said.
"We anticipate that growth combined with price increases recorded in recent months and favourable direct and indirect currency impacts will provide significant opportunities."
Navitas shares were down three cents to $5.97 at 1210 (AEST) on Tuesday.
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