Count Financial is in a strong financial position to push ahead with its expansion plans amid a difficult year of market volatility and industry challenges.
"Count's business model is solid, sustainable and profitable despite some fairly strong headwinds during 2010 and 2011, especially the market volatility," Count chief executive Andrew Gale said.
In the full year ending 30 June 2011, Count reported a record net profit after tax of $51.56 million, up 113 per cent on the previous corresponding period, the company said.
Diluted earnings per share for 2010/11 stood at 19.72 cents per share, up 111 per cent.
Meanwhile, Count's earnings before interest and tax dropped 3.8 per cent to $25.24 million.
The dealer group has attributed the listing of Countpus as the main contributor to the result.
Gale said 2010/11 brought with it "headwinds" for the wealth industry overall, such as capital markets, the Australian dollar and regulatory reforms.
"In terms of the year, we had demands on management attention in terms of those four markets. Part of that has meant we've had strong focus around client services and client retention as being a priority," he said.
He said it had been a "tough and challenging year", but also a year in which Count had laid some "key foundation stones".
In terms of the company's medium-term outlook, he said Count's position remained positive, particularly as 85 per cent of the wealth management market was in superannuation and retirement incomes, with further sector growth anticipated.
"We're at the early stages of some other exciting initiatives, which include estate planning, post-retirement solutions and some practice management initiatives," he said.
"The practice management initiatives are also important. That involves working on the business as well as working within the business, and we are in the early stages of some pretty exciting practice management initiatives with some external firms."
He said during the past year, the company had also added to its personnel and recruited to its leadership team.
The firm's pipeline of prospective acquisitions and new businesses was the strongest the company had experienced in 18 months, he said.
