The Directors of Countplus Limited (CUP) report a half year Consolidated Net Profit before Tax result of $10.66m (up 22%) and a Net Profit after Tax result of $6.23m (up 2.5%).
This increase of 2.5% is due to the fair value gain on our investment in Class Limited of $4.73m (after tax) which was partially offset by a $1m impairment expense and a higher tax expense ($890k) relating to the tax deconsolidation of 3 member firms under our Direct Equity Plan (firm buyback). Profit attributable to Owners of Countplus Limited was $5.99m (down 1%) due to the completion of the 3 member firm buybacks, which better positions CUP for the future.
On the 24th February, the Company declared its third quarterly dividend for 2015/16 of 2 cents per share, fully franked, payable on 16 May 2016.
The group maintains its diversified portfolio of businesses, represented in every mainland capital city of Australia and in a number of regional centres. Countplus is an aggregation of 19 businesses and their subsidiaries across Australia; 16 accounting/business advisory firms, one financial planning specialist, a property broking group, a financial planning dealer group and 2 new initiatives BLUE789 and ADVICE389. Countplus listed on the ASX on 22 December 2010.
A recorded presentation of the Countplus December 2015 half year results, presented by the Chairman and CEO, will be accessible via Board Room Radio later today.
