Slide 1: Half Year Results
For personal use only Half Year Results 28 February 2011 Barry Lambert - Chairman Michael Spurr - CEO
Slide 2: Background and Key Events
Background and Key Events Countplus is an aggregation of 16 accounting firms, 1 financial For personal use only services firm (75% interest) and 1 financial planning dealer group; At 1 July 2010: Held part interest 15 accounting firms (approx. 25%); Post July 2010 – 3 further businesses were a
Slide 3: Result Highlights
Result Highlights Net Profit after Tax: $8.34m For personal use only Net Profit after Tax attributable to shareholders: $3.67m EBITA: $9.86m (ex $3.4m gain on consolidation); Adjusted (normalised) Return on Equity: 17.4%1 Adjusted (normalised) Earnings per Share: 8.42c1 First quarterly d
Slide 4: Group Performance – Member Firms
Group Performance – Member Firms For personal use only $ % of Total Revenue made up of primarily of ‘000 Revenue accounting, legal and Total Net Member Revenue 41,339 100 financial planning services. Expenses: Salaries and Employment (22,879) (55.4) 3 Firms were acquired post July 2010. Premises (1,
Slide 5: Group Performance
Group Performance $ % of Total Interest expense primarily due to For personal use only ‘000 Revenue working capital loans Net Income Member Firms 10,256 now repaid. Head Office Contribution (398) (1.0) Head office EBITA 9,858 23.8 contribution expected to have neutral to Interest Expense (547) (1.3)
Slide 6: Balance Sheet
Balance Sheet $ For personal use only ‘000 Strong balance sheet with working capital Current Assets 26,459 debt repaid out of public raising. Non-Current Assets 51,288 Total Assets 77,747 All Member Firms Current Liabilities 24,482 generate strong cash flow. Non-Current Liabilities 5,301 Total Liabi
Slide 7: What makes CUP different?
What makes CUP different? “Special” relationship with Count Financial For personal use only Recruitment Outsourced services Financial arrangements The Member Firms – quality not size Equity incentives 7
Slide 8: Guidance
Guidance Second half cash result expected to be stronger For personal use only 3 Member Firms were acquired post July 2010 Acquisition costs expensed in first half not recurring 2 cents quarterly dividends commencing July 2011 8
Slide 9: Strategy for the Future
Strategy for the Future Organic growth For personal use only “Tuck-in” and “Bolt-on” acquisitions Targeted acquisitions at group level Accounting franchise 9
Slide 10: What are the benefits of being part of Countplus?
For personal use only What are the benefits to accountants and other financial services businesses of being part of Countplus? Diversify assets and grow at a listed multiple Provide financial support for business growth Long-term succession Enhance services range to client base 10
Slide 11: Half Year Results
For personal use only Half Year Results 28 February 2011 Barry Lambert - Chairman Michael Spurr - CEO