Countplus earnings propped up by investment in Class, not its accounting work
Countplus said its annual profit jumped 41 per cent, largely due to the successful float of software company Class, even as its traditional accounting operations stagnated.
While accounting revenue edged lower, net profit rose to $13.98 million in the year ended June 30, driven mainly by an after-tax increase of $11.4 million in the fair value gain on the firm's investment in self-managed superfund administration software Class.
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