The Bell Financial Group Ltd (ASX: BFG) share price is up around 8% after giving profit guidance.
Bell Financial is an Australian-based provider of stockbroking, investment and financial advisory services to private, institutional and corporate clients. Bell Financial has over 650 employees, operates 16 offices in Australia and has offices in New York, London, Hong Kong and Kuala Lumpur.
Bell Financial’s Profit Guidance
The diversified financial services business, Bell has advised that it expects its net profit before tax for shareholders for the first half of the 2019 financial year to be approximately $22.5 million, which would represent an increase of 59% compared to the previous corresponding period.
The company said that all divisions across the business have performed well during the period, with the profit generated on revenue of approximately $129 million – an improvement of 21%. Profit per share (EPS) will be approximately 5 cents, which is an increase of around 35%.
Bell Financial seems to have done very well to generate such a large increase of profit and revenue over one year. However, it’s not the type of business I’d want to invest in due to competition and the cyclical nature of financial companies.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.