Bell Financial announces half-year loss
Bell Financial Group has announced a net loss after tax of $1.83 million for the six months to 30 June 2012.
The result compares badly with the previous corresponding period in 2011, when the group posted a net profit after tax of $6.34 million.
In a statement to the Australian Securities Exchange (ASX), the company put the poor result down to a 24 per cent reduction in revenues compared to the previous corresponding period.
The result was "mainly attributable to lower daily execution volumes, particularly in the retail business, and fewer completed Equity Capital Market transactions", according to the ASX statement.
The company was keen to highlight the positives, noting that the result included $2 million in pre-tax one-off non-recurring expenditures and provisions - and that Bell Financial's balance sheet and cash position "remain solid".
The board of Bell Financial has announced that the company will not be declaring and interim ordinary dividend for the period.
Bell Direct - of which Bell Financial is a major shareholder - was selected to provide HSBC with a white label online broking solution earlier in the year. The service went live on 19 June 2012.
Recommended for you
In this week’s episode of Relative Return Unplugged, Dr Vladimir Tyazhelnikov from the University of Sydney’s School of Economics joins the show to break down the shifting sands of global trade dynamics and attempt to understand the way US President Donald Trump is employing tariffs.
In this week’s special episode of Relative Return Unplugged, we present shadow treasurer Angus Taylor’s address at Momentum Media’s Election 2025 event, followed by a Q&A covering the Coalition’s plans for the financial services sector.
In this week’s episode of Relative Return Unplugged, AMP chief economist Shane Oliver joins the show to unravel the web of tariffs that US President Donald Trump launched on trading partners and take a look at the way global economies are likely to be impacted.
In this episode of Relative Return, host Laura Dew is joined by Andrew Lockhart, managing partner at Metrics Credit Partners, to discuss the attraction of real estate debt and why it can be a compelling option for portfolio diversification.
