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.
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