Count leaves profit guidance unchanged
CountFinancial is maintaining its projection of full year operating profit earnings before interest and taxes (EBIT) of approximately $34 million, up 17 per cent on the $28.92 million it posted last year, despite the challenging market conditions.
Count has “never been in better shape and, being debt free, is well positioned to benefit from any competitor failures”, according to its quarterly business report to June 30 this year.
Adverse market conditions saw funds under administration (excluding direct property but including direct shares) fall by 9 per cent over the last 12 months to $12.8 billion.
However, the report said Count remains well-positioned to benefit when markets resume their long-term growth.
Funds in preferred platforms declined by less than 7 per cent over the last 12 months compared with a 12 per cent reduction in the All Ordinaries Accumulation Index and a 16 per cent reduction in the All Ordinaries Index.
Loans outstanding are now $4.3 billion (up 40 per cent) for the last 12 months. Combined funds and loans under advice are unchanged at $17.1 billion.
In-force insurance premiums are up 26 per cent for the financial year.
Count’s annual results are due to be released to the market on Monday August 18, 2008.
Recommended for you
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford take a final look at the lay of the land ahead of the federal election as the latest polls predict a Labor victory, and what that could mean for Australians going forward.
In this week’s special edition of Relative Return Insider, we bring you outgoing Financial Services Minister Stephen Jones’ keynote from Momentum Media’s Election 2025 event, followed by a Q&A focused on the Delivering Better Financial Outcomes reforms.
In this week’s episode of Relative Return Unplugged, Dr Vladimir Tyazhelnikov from the University of Sydney’s School of Economics joins the show to break down the shifting sands of global trade dynamics and attempt to understand the way US President Donald Trump is employing tariffs.
In this week’s special episode of Relative Return Unplugged, we present shadow treasurer Angus Taylor’s address at Momentum Media’s Election 2025 event, followed by a Q&A covering the Coalition’s plans for the financial services sector.
