Bell Financial Group Ltd (ASX:BFG) Reports Significant Profit Growth
Financial Performance
Bell Financial Group Ltd (ASX:BFG) has reported an impressive 26% increase in full-year profit after tax, amounting to $30.7 million, compared to $24.3 million in FY 2023. The company’s revenue is expected to rise by 12% to $276 million, up from $247 million last year.
The Retail and Wholesale broking business significantly contributed to this increase, achieving revenues of $177.8 million, which is also a 12% increase on FY 2023. This segment reported a remarkable profit after tax growth of 115%, bringing the total to $9.2 million.
Technology and Services Growth
The Technology & Platforms and Products & Services sectors experienced revenue growth of 8%, reaching $85.8 million. Profit after tax in these areas increased by 16%, totalling $21.5 million.
Full audited results will be disclosed in February. Bell Financial Group cautions that this guidance does not predict or guarantee future performance, acknowledging potential risks and uncertainties that could affect actual results.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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