Bell Financial Group (BFG) H2 2024 earnings summary

Executive summary

• Achieved strong growth in FY2024 with revenue up 11.9% to $276.4m and profit after tax up 26.4% to $30.7m compared to 2023.

• Earnings per share rose 26.3% to 9.6 cents; full-year dividend increased 14.3% to 8.0 cents per share, fully franked.

• Funds Under Advice reached a record $85.8bn, up 7.5% year-over-year, reflecting improved market sentiment and investor confidence.

• All business divisions contributed to growth, with recurring revenues from Technology & Platforms and Products & Services now at 31% of group revenue and 70% of group profit.

• Maintains a strong balance sheet with $130m in cash and no core debt.

Financial highlights

• Revenue: $276.4m, up 11.9% year-over-year; profit after tax: $30.7m, up 26.4%.

• Earnings per share: 9.6 cents, up 26.3%; dividend per share: 8.0 cents, up 14.3%.

• Return on equity: 18.3%, up 21.7% from 2023.

• Gross dividend yield: 8.5% based on 31 Dec 2024 share price.

• Market capitalisation: $430m; EV/EBITDA multiple: 7.7x; PE ratio: 14.0.

Outlook and guidance

• Expects continued growth in recurring revenues from Technology & Platforms and Products & Services.

• Ongoing investment in people, technology, and product expansion to drive future growth.

• Management remains focused on leveraging proprietary technology and expanding distribution channels.