The results come after “probably the toughest year” in its history in FY2012, when profits slid by 5% due to tougher student visa policy in the UK and a stubbornly high Australian dollar.

Hinting at a turnaround, enrolments climbed in the first half of 2013 in the University Programs division, which delivers pathways and degree courses in 30 colleges worldwide. This follows a 3% fall at the end of FY2012 and owes much to strong performance in the US.

The results come after what it called “probably the toughest year” in its history

The English Division (operating wholly in Australia) did better, with revenue growing to $7.1m (up from $0.8m in the first half of 2012), although this was largely due to new government contracts, with much smaller growth in ELICOS.

However, there was poor performance in the SAE, Navitas Professional (formerly Navitas Workforce) and Student Recruitment divisions – the latter because of suppressed demand in the UK. The company said it would now merge Navitas English and Navitas Professional, as well as Student Recruitment and University Programs following a structural review.

Commenting, CEO Rod Jones said: “Although the recovery of our University Programs and English businesses is progressing as planned, challenges do remain in some geographies and Divisions.

“Navitas’ strategic and structural review, which we are currently implementing, will address these issues and prepare the company for future growth opportunities. All of these factors should support improvement in FY13 with more significant growth from FY14.”

Australia generates most of the company’s business (around 76%), with the UK around 6%, Asia 5%, North America 5% and the remainder from other regions. End-of-year profits in 2011 climbed by 20% to AUS$77.4 million but fell to $73.1m in FY2012.