Bell Financial expects solid H1 profits

Bell Financial Group is expecting a 65% increase in first half profits and sees strong growth in the second half.

It is expecting first half profits of $14 million before taxes - up 65% over the previous corresponding period.

Group revenue was $101 million - up 14%. Overheads increased by less than 2%, Bell Financial Group said in company filings yesterday.

Going forward, the group sees a strong equity capital markets pipeline for the second half of the year.

It also sees a competitive edge from its July 5 acquisition of Third Party Platform (TPP) in which it had already owned an approximate 57% share.

"Bell Financial Group now owns 100% of what we believe to be the leading online technology platform in the market. Combining TPP'S capability with Bell Potter Securities Limited's own proprietary platform, FUSION, will increase our competitive advantage across our group's entire client base, from self-directed private investors to major institutions," it said in a statement.

It also provided an update on its US expansion - it has received SEC approval and has submitted its Financial Industry Regulatory Austhority (FINRA) membership agreement.

For 2015, BFG reported a before-tax earnings increase of 165%.

Read more: SECUSBell Financial GroupBell Potter Securities LimitedBFGFinancial Industry Regulatory AusthorityThird Party Platform
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