MENU

Navitas Limited (ASX:NVT) shares surge despite FY18 loss

Shares in education service provider Navitas Limited (ASX: NVT) are up 6.9% to $4.48 at the time of writing despite posting an after-tax FY18 loss of $55.3 million today, with the loss attributed to a $123.8 million one-off charge associated with rationalising the business portfolio of its Careers and Industry Division.

Navitas also reported revenue of $931 million – down 2.5%, with EBIT down 99% and a final dividend of 8c per share, 70% franked.

Despite a disappointing result, Navitas’ operations remain on track with CEO David Buckingham saying Navitas was “meeting the majority of our 2020 KPI targets”, exceeding enrolment targets and renewing agreements with key university clients.

Navitas operates in several cities across the globe offering a range of education and training services for students internationally.

Macquarie last month upgraded Navitas to outperform from a neutral rating, with a $4.55 price target on the stock.

Navitas comes up against Idp Education Ltd (ASX: IEL) in the space with childcare centre operator G8 Education Ltd (ASX: GEM) a sector cousin.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now