Financial planning accounts for 13 per cent of Countplus' revenue
Financial planning revenue made up 13 per cent of total group revenue for Countplus in the 2010-11 financial year, according to the company's full-year results posted on the Australian Securities Exchange (ASX).
The Count Financial subsidiary reported a net profit after tax of $8.9 million attributable to shareholders, announcing its plan to reward employee loyalty and performance through equity.
Despite posting a net profit after tax of $8.9 million, the company focused on its $13.3 million consolidated net profit after tax, which includes a full year's performance for 15 member firms acquired on or before 1 July 2010.
"The difference between [the two] arises due to the non-controlling interests held in the member firms until final acquisitions were completed in December 2010," the group stated.
Directors will also grant an annual issue of $1,000 worth of tax-free shares to all full-time employees with 12 months service or more - for the first three years post listing.
The initial grant was issued to 333 employees earlier this year, the group said.
Countplus is an aggregation of 19 established professional services businesses across Australia, including 17 accounting practices, one financial planning practice and a financial planning dealer group, Total Financial Solutions Australia, while Count Financial has major holdings in the company.
The group posted its first full year results on the ASX after it was listed in December 2010.
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