Slide 1: Half Year Results
For personal use only Half Year Results 29 February 2012 Barry Lambert - Chairman Michael Spurr - CEO & Managing Director
Slide 2: The Countplus Network
The Countplus Network For personal use only 2
Slide 3: Full Year Result Highlights
Full Year Result Highlights For personal use only Financials 2 Consolidated EBITA: $10.51 million 3 Consolidated Net Profit after Tax: $6.93 million Net Profit after Tax attributable to shareholders: $6.87 million Earnings Per Share: 6.30 cents Diluted Earnings Per Share: 6.29 cents CUP Dividends 3
Slide 4: Group Performance
Group Performance $ % Change Revenue derived For personal use only „000 (previous primarily from accounting and year) financial planning services Total Net Member Revenue 45,153 10.3% Full period Expenses: contribution from TFS dealer group Salaries and Employment (25,665) 12.2% Organic growth in bo
Slide 5: Group Performance (cont)
Group Performance (cont) $ % Change For personal use only „000 (previous year) Low business confidence and investor uncertainty Total Net Member Revenue 45,153 10.3% has impacted performance Expenses: Salaries and Employment (25,665) 12.2% Queensland Premises (2,512) 28.8% Member Firms are recoverin
Slide 6: Group Performance (cont)
Group Performance (cont) Head office negligible $ % Change For personal use only net cost to group „000 (previous expected to continue year) Net Member Income 10,619 8.0% Interest expense Head Office Contribution (net cost) (107) (73.1%) primarily due to working capital loans now repaid. Operating P
Slide 7: Balance Sheet
Balance Sheet $ For personal use only Strong balance sheet „000 with working capital debt repaid out of Current Assets 26,855 public raising Current Liabilities 17,616 All Member Firms Current Ratio 1.52 generate strong cash flow. Average “Lock- up” at 94 days Non-Current Assets 58,624 Non-Current L
Slide 8: Results Summary
Results Summary Overall result solid in challenging business environment For personal use only Organic revenue growth delivered in both accounting and financial services Conservative group debtor provisioning policy now in place impacting expenses (one-off) Benefit from tax consolidation rea
Slide 9: Dividends
Dividends For personal use only Dividends Paid Cents Per Share Paid First Post Listing Dividend 4 cents 01/07/2011 2011 Final Dividend 2 cents 15/08/2011 1st Interim Dividend 3 cents 15/11/2011 2nd Interim Dividend 3 cents 15/02/2012 Dividends Declared Cents Per Share Payable 3rd Interim Dividend 3
Slide 10: Key Acquisitions
Key Acquisitions For personal use only Date Acquirer “Tuck-In” Jul 2011 Countplus MBT Parramatta (Sydney, NSW) based (Sydney, NSW) chartered accounting & financial planning practice Loughhead Roberts Feb 2012 Kidmans Victorian based property & accounting (Melbourne, VIC) group Pacific East Coast 10
Slide 11: For personal use only
For personal use only Core business is property broking services Main clients are accounting firms Example of “bolt-on” acquisition –complements core business 11
Slide 12: Acquisition Strategy
Acquisition Strategy “Tuck-Ins” by subsidiaries will continue For personal use only Minority interests may also be acquired in larger practices CUP has low debt and ability to use scrip where appropriate Marketing campaign launching to accounting (non-Count) firms 12
Slide 13: Guidance
Guidance 2012 second half operating result v first half For personal use only Impact of “tuck ins” Impact of group provisioning policy in first half Current 12 cents per annum dividend expected to be maintained Dividend payout ratio expected to reduce over time 13
Slide 14: The Countplus Network
The Countplus Network For personal use only 14
Slide 15: Future Growth
Future Growth For personal use only Group efficiency - Member Firms learn from each other and develop Acquisition best practice - Cost synergies - Carefully targeted (limited) Organic (primary driver) - Must be EPS - Accounting accretive franchise - Firms acquired on basis of being capable of delive
Slide 16: The Countplus Network
The Countplus Network For personal use only 16
Slide 17: Half Year Results
For personal use only Half Year Results 29 February 2012 Barry Lambert - Chairman Michael Spurr - CEO & Managing Director