Count predicts 50 per cent profit growth
Shareholders in listed financial planning business Count Financial have been given good news for the second time in a week, with the group announcing that it predicted first half earnings for the 2004/05 financial year to rise by more than 50 per cent.
For the first half of the 2004/05 financial year, Count expects earnings before interest and tax (EBIT) to be somewhere between $6 million and $7 million, up from $4.04 million last year. The figure will be confirmed when the group releases its half yearly results on February 15.
The announcement comes less than a week after the independent group stated that it was still on track to exceed its full year operating profit target of 30 per cent in 2004/05 for the third consecutive year. This would translate to a final year profit of at least $14.1 million.
Count has pinned the profit growth on favourable investment market conditions and on its franchise businesses.
Since last week, Count has adjusted some of its key performance indicators, stating that outstanding loans owed to the company are now up $30 million to $1.44 billion and total assets under advice are now worth $9.05 billion, up $20 million.
Last November, Count posted its twenty fourth consecutive annual profit.
Recommended for you
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.
In this week’s episode of Relative Return Unplugged, AMP chief economist Shane Oliver joins the show to unravel the web of tariffs that US President Donald Trump launched on trading partners and take a look at the way global economies are likely to be impacted.
