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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