Navitas bumped in ASX rebalance

Education provider Navitas has slipped out of the S&P ASX 100 Index in a quiet quarterly rebalance.

Perth-based Navitas was one of only a few companies to have shifted in the S&P Dow Jones Indices rebalance for the three months to June, with no changes occurring in the ASX 20 or ASX 50.

Navitas was the only company to be removed from the ASX 100, while investment manager BT Investment Management was added to the index.

The education provider made a net profit of $53.3 million for the six months to December, according to its half-year report released in January, up 18 per cent on the previous corresponding period.

Navitas shares were unchanged at $4.31 each at the close.