BFG posts 33% profit increase


Bell Financial Group has posted a strong full-year result, with net profit after tax up 33% to $32.4 million on the back of a 16% increase in revenue to $254 million.
The result has seen the directors confirm a final dividend of 4.5 cents per share, fully franked.
Commenting on the result, BFG executive chairman, Alastair Provan said all businesses in the group had been profitable, with its Equity Capital Markets division making a notable contribution.
He noted that, in August, the company had completed the acquisition of two structured loan products (Equity Lever and Geared Equity Investments) and the associated sales and product development teams from Macquarie Bank.
“The acquisition increased the size of Bell Potter Capital’s loan book to almost $550 million, and significantly increases direct access to the Independent Financial Planners channel,” Provan said.
Recommended for you
The $673 billion global investment manager has appointed a former Zenith sales head as it seeks to expand its reach in the Australian wealth management market.
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.