The announcement came as Countplus announced at its annual general meeting (AGM) yesterday a profit guidance for 2013/2014 of earnings per share growth of just under 10 per cent.
Countplus announced an $11 million profit in August 2013, down slightly on the previous year.
The firm took a 25 per cent stake in Hood Sweeney in October 2012 – the largest of the five acquisitions by Countplus in 2012/2013.
Since 30 June 2013 Countplus made several more acquisitions, including the merger of Shearer + Ellis into Hood Sweeney and a 'tuck in' acquisition by Countplus member firm Kidmans Partners – both announced yesterday.
Kidmans Partners has acquired two-member Melbourne accounting firm Taylor Partners, which has around $700,000 in accounting fees.
Speaking at the AGM yesterday, Countplus chief executive Michael Spurr said member firms are expected to continue to generate stable organic growth by providing new services and utilising technology.
“Acquisition opportunities (particularly in the accounting space) are expected to continue to present themselves, driven by our group’s unique advantages as part of a listed company, as well as the realities of the industry’s demographics,” he said.
“For our accounting-based member firms, the core client base is the SME sector, ensuring they are essentially plugged into the engine room of our economy,” said Mr Spurr.
