Bell Financial expects 59 per cent increase in first half profit
Bell Financial Group has announced it expects a whopping 59 per cent increase in net profit before tax for its shareholders for the first half of 2019, as compared to first half of last year.
It told the Australian Securities Exchange (ASX) that this would represent profit attributable to its shareholders of around $22.5 million, as well as earnings per share for 1H2019 of five cents, up 35 per cent on 1H2018.
The financial services group attributed the increase to good performances from all business divisions for the period. This result was achieved on group revenue of $120 million, a 21 per cent improvement on 1H2018 revenue.
Recommended for you
The Federal Court has issued its verdict in ASIC's first greenwashing case against Vanguard Investments Australia regarding the use of ESG exclusionary screens.
Investment managers who plan to implement artificial intelligence in the next five years expect to see increased productivity, but views are mixed on whether it will boost revenue and assets under management.
A former corporate adviser has been sentenced in the Supreme Court of Western Australia for insider trading to realise a profit of more than $57,000.
Private markets expertise is sought-after for investment operations hires as allocations to alternative assets rise, according to a recruitment firm, but there is a gap between demand and supply.