Count Financial lending business flat
The loan-broking operation of the financial planning group, Count Financial, has gone backwards, with a fall in its loan portfolio and a reduced contribution to earnings. Count yesterday reported that loans outstanding stood at A$3.7 billion at the end of December - down from A$3.9 billion a year earlier. It has not had any growth in its loan portfolio for about three years. Commission income from lending was down 13 per cent in the December half. Twenty per cent of group revenue comes from residential and commercial loan broking; seven per cent from asset finance, and one per cent from margin lending. Count has long held ambitions to be a bigger force in loan broking. In 2008, it took a stake in Mortgage Choice and started merger talks. Its approach was rejected but it still holds 17 per cent of Mortgage Choice. The group's performance overall was flat, with earnings before interest and tax unchanged at A$12.2 million.