Count Financial said it expects to achieve record net profit for the 2009/10 financial year as it recorded a half-yearly profit that represented an increase of about 150 per cent on the prior corresponding period.
The results are subject to investment markets and the shares of Mortgage Choice, which Count has a 17.3 per cent stake in, remaining at current values, Count said.
"Since June 2009 Mortgage Choice share price has risen sharply and if it can be but maintained, this will produce a significant turnaround in our 2010 results," Count executive chairman Barry Lambert said at the firm's annual general meeting (AGM).
Count also added that Countplus is performing strongly. Thirteen businesses have been partly acquired and Count is on track to achieve a minimum of 20 businesses prior to listing in 2010.
Count chief executive Marianne Perkovic, who made her last presentation to shareholders at the AGM due to her resignation on 9 November, said although challenging markets may or may not be over yet, Count will be in a strong position to enjoy benefits of a return to positive market conditions.
"Obviously we eagerly await the market recovery but the business is sound and structured to outlast any market cycle," she said.
Count posted net profit of $19.4 million in 2008/09, down 9.3 per cent on the 2007/08 period.
Perkovic informed the market on 9 November of her decision to resign from the listed financial services firm and join Colonial First State as its general manager of distribution.
Lambert will act as the firm's chief executive until a replacement is appointed in the new year, Count said.
