Count Financial (Count) has put an employment freeze in place as it warns investors its earnings will be hurt by market volatility.
"Management has always focused on effective cost control, and ensuring the right head count for the business is always considered," Count chief executive Marianne Perkovic said at the group's annual general meeting yesterday.
"We have had no redundancies to date, but do currently have an employment freeze."
Should Count's funds under loans and advice stay at the October 31, 2008 level of $14.81 billion for a further eight months, the group expects earnings before interest and tax to fall 20 per cent for 2008/2009.
But the company has little debt, a strong and stable professional network of financial planners and accountants, and remains committed to expanding the overall business, Perkovic said.
The firm is looking to increase quality members, boost existing franchisee efficiency and diversify its income through the addition of non-investment products and services, she said.
Count has 100 people in its Sydney-based head office, 846 authorised representatives across Australia and 412 franchisee offices.
