Bell Financial Group (BFG) H1 2025 earnings summary

Executive summary

• Net profit after tax for 1H25 was $9.3 million, down 44% year-over-year amid challenging market conditions.

• Revenue for 1H25 was $121.5 million, a 12.5% decrease compared to 1H24.

• Technology & Platforms and Products & Services divisions delivered strong growth, offsetting declines in broking.

• Interim dividend declared at 3.0 cents per share, fully franked, supported by recurring revenues.

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

Financial highlights

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

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

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

• Funds Under Advice reached a record $87.3 billion as at 30 June 2025, up 1.7% from 2024.

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

Outlook and guidance

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

• Strategic partnership with Praemium to create a new wealth management platform and drive future fee-based revenue.

• Positive momentum noted in July and August, especially in Equity Capital Markets.

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

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