Bell Financial Group recorded a net profit after tax (NPAT) of $21.7 million for the half year ended 30 June 2026, a 133.3% increase on the prior corresponding period (pcp). Revenue rose 36.3% to $165.6 million, underpinned by a strong contribution from the Markets division and continued earnings growth across Platforms.
The result was driven by improved market conditions and heightened trading activity in the Markets division, complemented by scalable revenue growth in the Platforms business. Together, the two divisions delivered a broader and more diversified earnings base.
Earnings per share reached 6.8 cents, a record for the half year and a 134.5% increase on the pcp. This enabled the Board to declare a higher interim dividend of 5 cents per share, fully franked, up 66.7% on the pcp.
H1 FY26 result at a glance
The table below summarises the group’s headline financial metrics for the half year.
| Metric | H1 FY26 | Change on pcp |
|---|---|---|
| NPAT | $21.7m | +133.3% |
| Revenue | $165.6m | +36.3% |
| Earnings per share | 6.8c | +134.5% |
| Interim dividend | 5c (fully franked) | +66.7% |
| Company held cash | $118.3m | — |
A record half-year EPS enabling a higher, fully franked dividend signals both earnings strength and a tangible return to shareholders.
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Divisional performance: Markets surges, Platforms builds resilience
The half-year result reflected differing dynamics across the group’s two operating divisions, with Markets benefiting from favourable conditions and Platforms delivering steady, recurring growth.
Markets division rebounds on trading activity
The Markets division posted revenue of $110.8 million, up 59.7% on the pcp, with NPAT surging 403.6% to $8.5 million. The rebound was supported by improved market conditions and increased trading activity over the period.
BFG’s four-month unaudited results to April 2026 had already signalled the trajectory, with group NPAT reaching $16.3 million on a 37% revenue uplift before the full half-year figures were available.
Within the division, Equity Capital Markets raised $1.2 billion in new equity capital across 35 transactions, maintaining what the company described as a strong market position.
Platforms division delivers scalable, diversified earnings
The Platforms division recorded revenue of $50.2 million, up 8.4% on the pcp, and NPAT of $13.2 million, up 9.1%. The division represented 31.2% of adjusted revenue and 60.8% of total NPAT, underlining its growing contribution to group earnings.
During the period, the transition of existing clients onto the new Bell Potter Private Wealth platform, together with expanded investment advice capability beyond equities, generated $0.5 billion in new client inflows.
The contrasting profiles of the two divisions form the core of the diversification narrative: Platforms provides earnings resilience across market cycles, while Markets offers upside in stronger trading conditions.
What “Funds Under Advice” and a diversified wealth model mean for investors
Funds Under Advice (FUA) measures the total value of client assets that a wealth manager provides advice on. It serves as a useful indicator of scale and the potential for recurring, advice-based revenue, since a larger advised asset base can support more stable income across market cycles.
Bell Financial Group reported FUA of $91.4 billion, a 0.8% decrease on December 2025. The company attributed the movement primarily to a decline in the value of the Australian equity market.
A business model split across cyclical revenue (Markets) and more recurring revenue (Platforms) is generally valued by investors for its resilience. Here is why the structure matters:
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Recurring advice-based income from Platforms can help cushion earnings when trading activity slows.
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Strong market conditions allow the Markets division to capture upside through capital raising and trading.
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A broader earnings base reduces reliance on any single revenue stream.
Strategic progress and balance sheet strength
The group advanced several strategic priorities during the half, reflecting its stated ambition to grow into a more holistic wealth manager. Milestones delivered over the period included:
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Launch of the new Bell Potter Private Wealth platform.
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Launch of a new ANZ backed Bell Cash Account.
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Ongoing development of new client digital portals.
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Continued assessment of strategic acquisition opportunities.
The group maintained a strong balance sheet with no operating debt and $118.3 million in company held cash. Having no operating debt combined with cash reserves supports both dividend payments and the capacity to pursue potential acquisitions.
Co-CEO Commentary
“The strength of these results demonstrates the benefits of our diversified business model as we grow into a more holistic wealth manager. Our Markets division capitalised on improving market conditions, while our Platforms division continued to deliver scalable revenue growth and an increasingly meaningful contribution to Group earnings. While strong markets helped drive our latest results, the diversification of our Markets and Platforms businesses is designed to support greater resiliency across a range of market conditions,” said Arnie Selvarajah, Co-CEO of Bell Financial Group.
Dividend details and key dates
The Board declared an interim dividend of 5 cents per share, fully franked, representing a 66.7% increase on the pcp. The higher, fully franked payout reflects the group’s confidence in the sustainability of its earnings and delivers a tangible return to shareholders.
Key dates for the interim dividend are as follows:
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Record date: 27 August 2026
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Payment date: 8 September 2026
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