Global education services provider, Navitas Limited (NVT) today announced a 24% increase in student enrolments for the second semester of 2009 (“200902”).
Equivalent full time student unit (“EFTSU”) enrolments at the University Programs colleges and managed campuses increased to a second semester record of 14,306, up from 11,573 in the previous corresponding period. The result is the third consecutive year of more than 20% growth in second semester student enrolments.
Navitas Chief Executive Officer Rod Jones said the strong demand for places in the Company’s university programs reflected a recognition of the quality of educational and support services at both Australian and international colleges.
“Under our business model, we partner only with leading universities and ensure we meet the highest educational standards,” he said. “Our reputation for quality is driving demand from key markets and, in turn, increased student enrolments represent continued growth in revenue flow for the Company.” “We have now successfully applied this model to 20 campuses and colleges, and we continue to see new projects move into profitability within two years of start-up.” “This gives us great confidence to continue investing in new operations in established and growth markets.”
Established colleges to have grown more than 25% were Fraser International College (FIC), Melbourne Institute of Business and Technology (MIBT), South Australian Institute of Business and Technology (SAIBT), Hertfordshire Institute of Business and Technology (HIBT) and London International College of Business and Technology (LIBT). Excluding new colleges to have opened in the latter half of 2008 (which have comparatives of nil in the PCP), 200902 EFTSU growth remained an encouraging 15%.
“With two new colleges opening in the UK in September this year and the continued development of new markets and businesses, we expect to see continued solid growth across our portfolio into the future.”
