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Bell Financial Group profits up 44%

Bell Financial Group this morning said its net profit after tax for 2020 increased 44% to $46.7 million for the year ending December.

The unaudited results precede the results announcement coming in February.

Revenue increased 18% to $299 million. Earnings per share and NPAT were up 44% to 14.6 cents per share and $46.7 million respectively, the firm said.

Funds under advice grew 9% to $63.9 billion in 2020.

Bell Financial Group's business has three units: Bell Porter (equities, FX, equity capital markets, research, portfolio administration and superannuation), third-party platform (including third-party clearing and share trading for institutions, financial planners, private clients), and Bell Porter Capital (margin lending, cash accounts, structured loan products).

Its first half revenue for the period ending 30 June 2020 was $129 million - up 7.4% from 30 June 2019. Net profit was $14.3 million - up 2.6%.

Last year, it acquired Macquarie Private Bank's third-party clearing services.

Read more: Bell Financial GroupBell Porter CapitalMacquarie Private Bank
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