The Bell Financial Group Ltd (ASX: BFG) share price is rising today after the company released its unaudited full year results to the ASX. At the time of writing, Bell Financial shares are trading 1.67% higher than yesterday's closing price.
While the company will not release its full year results until February, today's release gives an overview on how the company has performed this past financial year.
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What Bell Financial does
Bell Financial is an Australian-based provider of stockbroking, investments and financial advisory services. It offers its services to private, institutional and corporate clients, with a network of 15 offices across Australia, Asia, Europe and the US.
The company's operating structure is divided into three units. Bell Direct is an online trading platform that offers share market ideas and broker research. The other two units — Bell Potter Securities and Bell Potter Capital — form one of Australia's largest financial advisory services.
Market update
Earlier today, Bell Financial released its unaudited results for the full year ending 31 December 2020.
The company outlined that its revenue had increased 18% to $299 million. This was the fourth consecutive year of revenue growth for the company. Bell Financial also reported its funds under advice (FUA) total increased to $63.9 billion, 9% higher than the prior corresponding period.
Bell Financial hit the trifecta, also reporting a large rise in its net profit after tax (NPAT). NPAT was up by a monstrous 44%, coming in at $46.7 million in a year that global shares went into meltdown thanks to COVID-19. As a result the company also saw its earnings per share rise by 44%, up to 14.6 cents per share.
The company stated that its full investor presentation will be available following the release of its audited results in February.
At the time of writing, the Bell Financial share price is sitting at $1.83 per share, giving the company a market capitalisation of $590 million.
