CountPlus has reported underlying earnings growth momentum across its business.
In its FY22 results, the company announced that underlying NPAT spiked by 127 per cent to $5 million, while underlying EBITA in all three operating segments — wealth, accounting and services — grew by 49 per cent to $11.4 million.
CountPlus reported a final dividend per share of $0.02; a 33 per cent increase from HY22.
Meanwhile, underlying EBITA for accounting slightly increased to $13.5 million, now covering 18 firms and over 35,000 clients with an 8 per cent increase in revenue to $115.2 million.
The listed advice group also reported that its Count Financial operations — now referred to as Wealth — delivered underlying EBITA growth of 432 per cent on the previous period to $3.2 million, while aggregated revenues increased by 39 per cent to $98.9 million.
CountPlus confirmed a 12 per cent jump on adviser numbers from 248 to 278 and 22 new firms as corporate-authorised representatives.
CEO Hugh Humphrey, who joined CountPlus in July, praised the results.
“In my first full year of financial results as CEO, I am pleased to report positive change for the business,” Mr Humphrey said.
“We have continued to scale our commercial footprint, navigate changes to the business and operating environment, and deliver balanced earnings growth organically and through strategic acquisitions.
“Importantly, this result has been achieved despite an uncertain economic environment and is the group’s first without conflicted remuneration following the end of grandfathered commissions. With earnings growing in our accounting, wealth and services businesses, we have a stable platform and well-defined pathways for growth in each segment.”
Mr Humphrey stepped into the CEO role last month after previously working as general manager of NAB’s consumer bank.
It came after CountPlus announced in February that a new employment agreement would not be entered with then-CEO and managing director, Matthew Rowe.
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
