Australia’s third biggest financial planning dealer group, Count Financial, has been valued at $222 million by an independent actuarial evaluation
Count commissioned actuaries Trowbridge Deloitte to conduct the economic valuation of the company.
However, Count managing director Barry Lambert insists this does not mean the financial planning group is up for sale.
“We’ve told people we’re not interesting in selling so that’s the end of that one,” he says.
Lambert says the valuation was conducted to keep analysts and share holders informed.
“So I guess it’s all about supporting the current share price rather than any take over thing,” he says.
The valuation, calculated as at 30 June 2004, was based on best estimates of key assumptions such as revenue growth, expense to income ratios and fee margins.
In a statement to the Australian Stock Exchange, Count indicated that if it achieves more optimistic expense to income ratios than those used by Towbridge Deloitte, then group’s the equivalent economic value could be $262 million as of 30 June 2004.
