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.
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