Bell Financial Group (BFG) H1 2025 earnings summary

Executive summary

• Revenue for 1H25 was $121.5m, down from $138.7m in 1H24, reflecting challenging market conditions.

• Profit after tax declined 44% year-over-year to $9.3m, with EPS at 2.9¢ per share.

• Fully franked interim dividend of 3.0¢ per share declared, compared to 4.0¢ last year.

• Over 700 employees, with operations in Australia and international offices in New York, London, Hong Kong, and Kuala Lumpur.

• Technology & Platforms and Products & Services divisions delivered record revenue and earnings, offsetting weaker broking performance.

Financial highlights

• Technology & Platforms and Products & Services revenue rose 12% year-over-year to $46.3m, now 38% of total revenue.

• Profit after tax from Technology & Platforms and Products & Services increased 17% to $12.1m.

• Cash balance at 30 June 2025 was $96.8m; net assets $237.2m; net tangible assets $90.2m.

• Net cash from operating activities was $31.4m, compared to a net outflow of $31.2m in the prior year.

• Total assets increased to $1,225.4m from $1,054.0m at 31 December 2024.

Outlook and guidance

• Recurring revenues from Technology & Platforms and Products & Services expected to underpin future growth.

• Partnership with Praemium to create a new wealth management platform, aiming to convert transactional brokerage to fee-based revenue.

• Significant opportunity identified to increase share of wallet with existing clients and capture external assets exceeding $80b.

• No significant events or circumstances have arisen since period end that would affect future operations or financial position.

• Directors believe the group will be able to pay its debts as they become due.