Navitas Limited (ASX: NVT) today unveils the new international agreement with Australian James Cook University. The global education provider stated it had inked an international student marketing and recruitment contract with James Cook University with the view to support their internationalization strategy.
The agreement will see Navitas recruiting international students to JCU’s undergraduate degree as well as to its pathway and ELICOS programs being run at its Townsville and Cairns campuses. The term of the agreement has initially been fixed to three years under which Navitas will generate revenue through the fees it is entitled to earn on the recruitment of students.
Navitas Group CEO David Buckingham stated that Navitas is well positioned to support JCU’s internationalization plans with its global recruitment network. He added that the education provider looks forward to turning this agreement into a long-term partnership with a highly ranked Australian university that has strong worldwide recognition.
This partnership is focused on leveraging Navitas’ expertise in international education as well as its extensive global recruitment network so that it could assist the partner university JCU to grow and diversify its international student population and enhance its reputation as an international place of study.
Commenting on the agreement with Navitas, JCU’s Vice-Chancellor Professor Sandra Harding stated that this partnership brings together the joint expertise of both the parties that underlines Navitas as a leading education provider in foreign education management services and JCU as a University among the top 2% of the global universities.
However, the actual success of the agreement depends on the number of factors including the strength of recruitments that Navitas could provide for JCU, the quality of student outcomes and their feedback and the competitiveness of the Australian regulatory environment. Moreover, the attractiveness of JCU’s ranking to international students and traction to its Townsville and Cairns locations as destinations to international students are expected to be the forerunner to the success of the agreement.
Professor Harding said that this partnership outlines the Navitas plan of expansion through the provision of services beyond its own colleges and extending the direct entry recruitment strategy which is already in place with several US-based universities.
James Cook University offers courses in Biomedical Sciences, Business, Arts, Creative Media, and Engineering among others through its Australia based campuses in Cairns, Townsville, and Brisbane as well as an international campus in Singapore.
In today’s trading session, Navitas shares are trading at higher levels. Currently, NVT’s stock price is up 0.419% to trade at $4.790 as on 24 December 2018. But over the last 12-months, Navitas’ stock has witnessed a plunge of 14.36% including a decline of 7.74% over the past one month. US$4.0 million.