Countplus predicts strong half-year results
Countplus has forecast earnings before interest, tax and amortisation (EBITA) of $10.4 million for the first half of 2011, which represents a strong first result for the company after it listed in December last year.
This result is in line with previous market statements, and excludes a fair value uplift of its equity interests recognised on consolidation at 1 July, 2010.
The directors of the company expected the second half of 2011 to be even stronger, due to the fact that Countplus acquired three firms after July 2010 that did not contribute a full six months to the first half result. There will also be some non-recurring acquisition costs in the first half.
Countplus is the aggregation of 16 accounting practices, one financial planning practice and a financial planning dealership, with Count Financial being a major shareholder in the company.
Countplus will announce its full results on 28 February, 2011.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
