Countplus Ltd. :CUP-AU: Earnings Analysis: For the six months ended June 30, 2017 : September 1, 2017

Countplus Ltd. reports financial results for the half-year ended June 30, 2017.

We analyze the earnings along side the following peers of Countplus Ltd. – FSA Group Limited and Platinum Asset Management Ltd (FSA-AU and PTM-AU) that have also reported for this period.


  • Summary numbers: Revenues of AUD 58.67 million, Net Earnings of AUD -1.60 million.
  • Gross margins narrowed from 70.40% to 69.51% compared to the same period last year, operating (EBITDA) margins now 7.86% from 25.03%.
  • Earnings rose compared to same period last year, despite decline in operating and pretax margins.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income (See complete table at the end of this report):

2017-06-30 2016-12-31 2016-06-30 2015-12-31 2015-06-30
Relevant Numbers (Semi-Annual)
Revenues 58.67 62.49 59.5 62.6 58.71
Revenue Growth (YOY) -1.38 -0.17 1.33 -1.12 1.26
Earnings -1.6 1.49 7.4 5.99 3.88
Earnings Growth (YOY) -121.62 -75.07 90.77 -0.98 -11.78
Net Margin -2.73 2.39 12.44 9.57 6.61
EPS -0.01 0.01 0.06 0.05 0.03
Return on Equity -2.71 2.43 12.06 10.59 7.25
Return on Assets -2.98 2.5 12.56 10.84 7.33

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Market Share Versus Profits

Revenues History
Earnings History

CUP-AU‘s change in revenue this period compared to the same period last year of -1.38% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that CUP-AU is holding onto its market share. Also, for comparison purposes, revenues changed by -6.11% and earnings by -207.10% compared to the immediate last period.

Revenues Growth Versus Earnings Growth

Quadrant label definitions. Hover to know more

Leader, Earnings Focus, Laggard, Revenues Focus

Earnings Growth Analysis

The company’s year-on-year decline in earnings was influenced by a weakening in gross margins from 70.40% to 69.51%, as well as issues with cost controls. As a result, operating margins (EBITDA margins) went from 25.03% to 7.86% in this time frame. For comparison, gross margins were 70.17% and EBITDA margins were 7.91% in the previous period.

Gross Margin Versus EBITDA Margin

Quadrant label definitions. Hover to know more

Differentiated; Low Cost, Commodity; Low Cost, Commodity; High Cost, Differentiated; High Cost


Despite a decline in operating (EBIT) margins as well as a decline in pretax margins, the company’s earnings rose.

EBIT Margin Versus PreTax Margin

Quadrant label definitions. Hover to know more

Operation driven Earnings, One-time Favorables, Low Earnings Base, One-time Unfavorables
EBIT Margin History
PreTax Margin History

Access our Ratings and Scores for Countplus Ltd.

Company Profile

Countplus Ltd. operates as a holding company with interest in providing accounting and financial services. It provides a range of solutions such as auditing, and assurance, business and corporate advisory, corporate recovery and insolvency, financial planning, human resource, as well as lending and taxation. The company was founded in 2007 and is headquartered in Sydney, Australia.

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