The Company declared a fully franked final dividend of 2.25 cents per share, up +13% on the prior corresponding period, improving returns for shareholders and taking total dividends higher to 3.75 cents per share for the full year.
Count Chief Executive Officer, Hugh Humphrey, said a clear focus on clients and delivering integrated Accounting and Wealth solutions was producing results. He noted the full year results were particularly pleasing given the operating review completed in the first half of the year, and the resolution of the resourcing challenges in the Accounting segment.
"The past year has been a significant period of delivery and transformation for our business. For the first time in our 43-year history, Count operates as a single, strong brand in the market alongside our new client-centred value proposition. We delivered on our ambition to scale Wealth with the acquisition of Affinia Financial Advisers (Affinia) from TAL, lifting adviser numbers to around 400. We resolved legacy challenges, deepened our leadership capability with new appointments and systematically executed nine high-quality growth transactions in Accounting."
"Count delivered profit growth in all segments during a period of intense change and despite a number of challenges. Our focus on clients is producing results and our strategy continues to diversify our earnings base. We are well positioned for growth with strong demand for services in all segments. As one of Australia's leading integrated accounting and wealth services providers, we continue to fulfil our promise to give clients the confidence to look ahead," Mr Humphrey concluded.
Operating segment performance
Accounting
In the Accounting segment, firm numbers were stable at 18, client numbers increased to over 39,000 and reported revenues were $66.6M. Despite experiencing sector-wide accounting resource challenges in the first half of FY23, adjusted aggregate EBITA grew by +8% to $22.2M. During the year, the business completed one acquisition, seven tuck-ins and one merger. The accounting firm acquisitions pipeline has increased and continues to be a source of complementary growth.
Wealth
The Wealth segment had a strong performance year, increasing revenues by +17% to $18M, with adjusted aggregate EBITA growing by +23% to $2.6M. More than 25,000 documented advice experiences were delivered to clients. Count now represents a network of around 400 financial advisers following the completion of the Affinia transaction in May 2023.
Services
Count's Services segment delivered overall reported revenue of $6.8M (+26%) and adjusted aggregate EBITA grew by +35% to $2.6M, with Accurium providing services to around 4,200 accounting firms. Accurium also launched the SMSF technical helpdesk 'Ask Accurium', further enhancing its education offering and positioning the business to become a leader in technical content.
Our Community
In FY23, the Count Charitable Foundation donated over $1.2M to support initiatives that make a positive and lasting difference to people in the community. Since its inception in 2004, the Foundation has donated more than $14M to people and communities in need.