Count ups profit forecast
Australia’s second largest independent dealer group, Count Financial, has upgraded its profit guidance on the back of what it has described as continued strong growth in funds under advice.
The listed financial planning group, which predicted in February that its earnings before interest and tax would be around $15 million for the 2005 financial year, announced today that the result could be as high as $16.3 million.
The groups said in a statement to the stock exchange that strong growth in funds under advice, as well its loans business, would underpin the result.
Count’s funds under advice, which have grown 26 per cent this financial year, currently stand at $7.96 billion, while its loan book is valued at about $1.54 billion.
“It is too early to be more definitive, but we now believe [earnings] will be no less than $15 million with the possibility of being as high as $16.3 million,” Count said.
Strong growth in funds flowing to recommended platforms was also expected, however this was forecast to have less of an impact on earnings growth, Count said.
“Further growth in recommended platforms will make limited additional impact on the current year’s result as Count receives no upfront income from this source,” the group said.
“However, with an expected increase of around 40 per cent at July 1, 2005 compared to July 1 2004, the growth underwrites solid income growth for 2005-06.”
Recommended for you
In this episode of Relative Return Insider, host Keith Ford and AMP deputy chief economist Diana Mousina break down the spike in inflation numbers and what it means for the possibility of a rate cut as we move into the new year.
In this episode of Relative Return Insider, host Keith Ford and AMP economist My Bui explore Prime Minister Anthony Albanese’s trip to the US and the critical minerals deal stemming from his meeting with President Donald Trump.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver unpack the latest unemployment numbers and what they mean for a rate cut, as well as how the latest flare-up in the ongoing US–China trade dispute has highlighted the remaining disparity between gold and bitcoin.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver take a look at the unfolding impacts and potential economic ramifications of the US government shutdown and the surge in gold and bitcoin prices.
