Count profits pay dividends
By Liam Egan
CountFinancial has reported a $9.01 million net profit for the year to June 30, 2004 — up 53 per cent or $3.14 million on the previous corresponding period.
The strong performance was boosted by $1.7 million improvement in interest and investment earnings for the financial planning group for the year ending June.
Ordinary revenues for the year were $69.76 million, up 59 per cent on 2002-03, while earnings before interest and tax (EBIT) grew 32 per cent to $10.85 million.
Count will pay a fully franked final dividend of $0.01 on October 15, taking the total dividend for the year to 3.5 cents per share — a 45 per cent increase on 2002-03, with total dividends of $7.74 million representing 86 per cent of the group’s net profit for the year.
Managing director Barry Lambert says the firm will issue its first ever ‘Christmas’ dividend of $0.01.
Lambert adds Count expects to pay four quarterly fully franked dividends of 1c during the year, an increase of 14 per cent on the 2003-04 dividend.
“Count is in great shape and another good year is expected in 2004-05,” he says.
However, he warns shareholders the company’s decision to self-insure will “increase the volatility” of its profits in 2004-05.
Count’s income for 2003-04 includes a 15 per cent increase in fees, commissions and related income, which Lambert attributes to strong growth in its loans and leasing business.
He projects a boost to the segment’s growth in 2004-05 from the implementation of a new commercial loan broking service and continued growth in home loans and asset purchase financing.
The company’s platform administered funds rose 41 per cent for the year to $3.03 billion, although asset based income rose only 28 per cent.
Recommended for you
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by special guest Shane Oliver, chief economist at AMP, to break down what’s happening with the Trump trade and the broader global economy, and what it means for Australia.
In this episode, hosts Maja Garaca Djurdjevic and Keith Ford take a look at what’s making news in the investment world, from President-elect Donald Trump’s cabinet nominations to Cbus fronting up to a Senate inquiry.
In this new episode of The Manager Mix, host Laura Dew speaks with Claire Smith, head of private assets sales at Schroders, to discuss semi-liquid global private equity.
In this episode of Relative Return, host Laura Dew speaks with Eric Braz, MFS portfolio manager on the global small and mid-cap fund, the MFS Global New Discovery Strategy, to discuss the power of small and mid-cap investing in today’s global markets.
