Hot Stocks Navitas Ltd (NVT)

Navitas Ltd (NVT) is an education services provider for university programs, language training, workforce education and student recruitment and operates in cities around the world.

NVT has been a hot stock lately and announced a 31% rise in net profit to $64.3 million, from $49.2 million a year earlier.  The result also beat consensus estimates of a $62.1 million profit.

University Programs was the NVT’s strongest performing division, with revenue increasing 22% thanks to a surge in student numbers in the UK, Canada, and Singapore.

NVT expects solid earnings growth in FY11, although growth in FY12 is expected to take-off as the group realises the earnings from the colleges it is opening over the next year.

NVT declared a final dividend of 10.7 cents, up from last year’s 8.8 cents.

Australian share price for NVT jumped 6.1% on the back of the news to settle at $6.47.