Can Count Maintain Momentum After Rapid Integration and Dividend Boost?
Count Limited has reported a robust FY2025 performance, highlighted by a 28% jump in revenue and a record dividend payout, signaling strong momentum in its wealth management and financial advice operations.
- Revenue increased 28% to $143.6 million
- Underlying EBITA rose 67% to $27.7 million
- Cost synergies from Diverger integration exceeded $5.1 million
- Final fully franked dividend up 22.2% to 2.75 cents per share
- Funds Under Advice and Funds Under Management grew 10% and 24% respectively
Strong Financial Growth Amid Strategic Integration
Count Limited (ASX – CUP) has delivered a standout FY2025 result, with revenue climbing 28% to $143.6 million, surpassing initial guidance and reflecting broad-based growth across its operating segments. The company’s underlying earnings before interest, tax, and amortisation (EBITA) surged 67% to $27.7 million, driven by a combination of organic expansion, strategic acquisitions, and realised cost synergies.
Statutory EBITA more than doubled, rising 144% to $24.9 million, even after accounting for divested operations and integration expenses. This robust profitability underscores Count’s successful execution of its M&A strategy and operational efficiencies.
Integration Success and Dividend Milestone
A key highlight was the integration of Diverger, which delivered $5.1 million in cost synergies, well ahead of the $3 million target. This achievement not only improved margins but also enabled Count to declare a final fully franked dividend of 2.75 cents per share, marking a 22.2% increase and the highest payout in eight years. The total dividend for FY2025 stands at 4.5 cents per share, reflecting the company’s confidence in its cash flow and growth trajectory.
CEO Hugh Humphrey emphasised the company’s 45-year legacy of trusted advice and its commitment to helping Australians achieve financial goals. He highlighted the adviser-led model and the integration of accounting with wealth management as pivotal to unlocking new revenue streams and enhancing client outcomes.
Expanding Funds and Strategic Transactions
Count’s Funds Under Advice (FUA) grew 10% to $37.8 billion, supported by adviser network expansion and positive market performance. Meanwhile, Funds Under Management (FUM) surged 24% to $3.9 billion, driven by strong investment returns and net inflows. The company completed eleven transactions during the year, including divestments of underperforming assets, reflecting disciplined M&A execution aligned with its growth strategy.
Operationally, Count’s segments showed solid progress – wealth advice and solutions grew steadily, equity partnerships expanded offerings, and services saw integration-related productivity gains. The company’s focus on scale, innovation, and client engagement tools positions it well for sustainable growth.
Looking Ahead
With integration milestones achieved and a strong financial foundation, Count Limited is poised to continue leveraging its adviser-led model and expanding its footprint in Australia’s financial advice sector. The company’s disciplined approach to M&A and focus on operational efficiencies suggest further value creation opportunities for shareholders.
Bottom Line?
Count’s FY2025 results set a high bar, but sustaining growth amid integration and market shifts will be the true test ahead.
Questions in the middle?
- How will Count sustain its margin improvements beyond initial integration synergies?
- What are the company’s plans for future acquisitions or divestments in FY2026?
- How might evolving regulatory changes impact Count’s adviser-led business model?
