Count profit rise drives acquisitions
Count Financial has posted a 29 per cent increase in net profit for the year ended June 30, 2007, on the back of a 24 per cent increase in revenue to $126.27 million and a 9 per increase in net fees and commissions.
The result prompted the board to reward shareholders with a 33 per cent increase in dividends to eight cents per share.
Count’s results, released on the Australian Stock Exchange today, revealed the group had funds and loans under advice in excess of $18 billion.
The company attributed the result to strong investment markets and robust business growth combined with a slight reduction in its expense to income ratio.
At the same time as releasing the results today, the chief executive, Marianne Perkovic, pointed to its strategy into the future, including increasing the number of quality members within the Count Group, improving the efficiency of existing Count Franchisees and adding new products and services.
In doing so, the company revealed that four firms were on Count’s active acquisitions list and at the preliminary due diligence stage.
The company said it was expected these firms would receive non-binding indicative offers over the next few months, with settlement of all transactions expected to occur over the current financial year.
AUTHOR
Mike Taylor
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