Dealer group Count Financial has reported a 46 per cent drop in net profit after tax to $5.84 million for the half year ended 31 December 2008.

The company also said its interim net profit before tax fell 9 per cent to $16.3 million.

 It said it had recorded a $3.9 million loss from its investment in the Mortgage Choice business.

The market impact on Count's investment portfolio for the first half was a loss of $5.9 million.

The Count balance sheet revealed interest bearing loans and borrowings were at nearly $19 million for the half year, up from zero at 30 June 2008.

Count chief executive Marianne Perkovic said this was a short-term debt taken to fund Count Plus acquisitions and Count's interest in Mortgage Choice.

"We're looking at a 24 month period to pay it back," Perkovic said.

Despite this, she said the overall results were positive.

"The business model is sound. From a risk and compliance perspective we have a good research process and we haven't been involved in any investment collapses, so for us it's really just waiting for the market to recover to resume the growth percentages that Count has had," she said.

The second interim 'Easter' dividend remains unchanged at 2 cents fully franked and will be payable on 15 April.

"We also announced at our annual general meeting that our full-year dividend will be no less than 8 cents and no more than 10 cents, so that's also unchanged," Perkovic said.

Count shares rose 6 cents yesterday to 88 cents per share.