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 episode of Relative Return Insider, host Keith Ford is joined by Accountants Daily journalist Imogen Wilson to take a look at why there has been such broad support for a more comprehensive tax reform discussion at the Treasurer’s economic roundtable.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to discuss Australia’s stagnating productivity ahead of the government’s economic reform roundtable, and how picking all the “low-hanging fruit” for reform in the ’90s helped kick off a surge that has since stalled out.
In this episode of Relative Return Insider, host Keith Ford is joined by Cyber Daily deputy editor David Hollingworth to take you inside the evolving landscape of cyber crime, how even huge companies can be at risk of breaches, and what that means for anyone trying to understand the risks.
The latest episode of Relative Return sees host Laura Dew chat with Richard Ivers and Mike Younger, co-portfolio managers at Prime Value Asset Management, on their newly launched Microcap Fund and opportunities in small and mid-cap shares.
