Count reports record profit
Publicly listed accountancy-based dealer group Count Financial has reported a record profit for the past financial year.
The group told the Australian Securities Exchange (ASX) today that net profit after tax had increased by 24 per cent to $23.99 million on the back of a 6 per cent increase in revenue to $129.9 million, and foreshadowed an even better result in the current financial year.
Announcing the result today, the company said it was well position for the regulatory changes proposed for the wealth management and financial advice industry.
“Count’s business model and business margins are expected to be resilient in this changing regulatory environment,” it said.
The company said that it had experienced strong growth in the wealth protection/insurance segment and had refocused upon its mortgage aggregation business, finconnect, which it expected to result in a strengthened performance in the current financial year.
It said that Countplus was expected to list later this year, which should provide additional earnings momentum to the company.
AUTHOR
Mike Taylor
Recommended for you
In this week’s episode of Relative Return Insider, Professor Robert Brooks of Monash Business School joins the show to unpack the economic and market implications of rising tensions between Israel and Iran.
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford discuss a busy week of announcements from ASIC, with submissions to its public and private markets paper made (mostly) public.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to unpack Australia’s underwhelming March quarter GDP figures and what they signal for the Reserve Bank’s next move.
The latest episode of Relative Return sees host Laura Dew chat with Brian Jones, founder of outsourcing company VA Platinum, on why choosing to outsource certain functions of your business can enable you to be efficient and productive.
