|Bid||4.27 x 0|
|Ask||4.28 x 0|
|Day's range||4.27 - 4.37|
|52-week range||4.17 - 5.64|
|PE ratio (TTM)||29.65|
|Earnings date||29 Jan. 2018 - 2 Feb. 2018|
|Forward dividend & yield||0.28 (6.48%)|
|1y target est||4.56|
Shares in Navitas have taken a beating after the education provider's first-half profit was hit by the closure of some colleges and a decline in government-backed language training contracts. Navitas made a net profit of $24.7 million in the six months to December 31, down 54 per cent from a year ago. The company said its profit was impacted by the loss of earnings following the closure of the Macquarie and Curtin Sydney colleges, and a $7.5 million devaluation of tax loss assets in the US as a result of recently passed tax cuts.
Education provider Navitas's first-half profit has slumped by more than 50 per cent, hit by the previously announced closure of some colleges and a decline in government-backed language training contracts. Navitas's net profit for the six months to December 31 fell by 53.6 per cent to $24.7 million. Navitas chief executive Rod Jones says the group delivered strong academic outcomes for students while delivering growth and improved cash flows from continuing operations.
Education provider Navitas's half-year profit has fallen by 53.6 per cent to $24.7 million, hit by the previously announced closure of some colleges and a decline in government-backed language training ...
Education provider Navitas expects a one-off charge of $7.5 million in its half-year accounts following the reduction in the US corporate tax rate. The US tax overhaul will result in the reduction in the carrying value of its US tax assets in accordance with the reduced tax rate, the company said. US president Donald Trump last week signed a massive $US1.5 trillion tax overhaul into law, including the reduction of the corporate rate from 35 per cent to 21 per cent.