Count lifts profit off mat post Diverger acquisition

Financial planning and accounting group, Count Limited, has bedded down its acquisition of competitor group, Diverger, turning its 31 December 2023 half-year result of $620,000 into $3.95 million in net profit after tax.

The result has seen the Directors approve an interim dividend of 1.75 cents per share, fully franked.

The announcement also confirmed that Westpac Bank has approved a $10 million increase in the company’s debt facilities which it said, “enables Count to continue its inorganic growth strategy”.

Commenting on the result, Count Limited chief executive, Hugh Humphrey described it as ‘strong’ and as continuing the momentum establishing Count as one of Australia’s leading providers of diversified financial services”.

“Our results reflect the growing client demand for advisory services and the benefits of having successfully completed the Diverger integration,” he said.

Humphrey noted that Count now provides education, technical support, consulting, investments and advice to accountants and financial advisers.

The company said that statutory revenue had increased 54% with underlying earnings before Interest, Tax and Amortisation increasing 141% to $13.9 million.