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.
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