Bell Financial flags improved $23.5m H1 profit but shares dip
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Bell Financial Group (ASX:BFG) is expecting to book a higher $23.5m first-half profit, but investors didn’t seem overly happy about it with shares dipping 5.2 per cent on Friday morning.
The figure is 5 per cent up on the same period last year. Shares, however, slipped to $1.27 from Thursday’s close of $1.34.
While it promised to give a more detailed breakdown of individual division numbers next month, it noted several subsidiaries were doing well.
These included Retail and Wholesale Equities, its non-bank margin lending business Bell Potter Capital as well as Equity Capital Markets, which raises capital.
“Given the circumstances that we all find ourselves in today, to be able to produce a first half result that has us tracking better than the corresponding period is, I think, extraordinary,” executive chairman Alastair Provan said.
ASX companies, both great and small, rushed to top up their cash balances as COVID-19 hit.
As of June 25, $27.78bn had been collectively raised — more than double the same amount at the same time last year.
Bell Potter, the broking arm of Bell Financial, has been one of the top performing rainmakers.
It ranks 8th overall having raised $683.4m, including joint deals, as of July 9. Companies range from 2020’s hottest stock, gold explorer De Grey Mining (ASX:DEG), to stem-cell biotech play Mesoblast (ASX:MSB), which is involved in the search for a COVID-19 treatment.
Here’s a list of Bell Potter’s deals in 2020:
Scroll or swipe to reveal table. Click headings to sort.
| Date Deal Effective | Code | Company | Deal Size (AUD) | Offer Type | Shared |
|---|---|---|---|---|---|
| 26/6/20 | AIS | Aeris Resources Ltd | $4.6M | Placement | Yes |
| 17/6/20 | PG1 | Pearl Global Ltd | $1.7M | Placement | No |
| 15/6/20 | AFT | AFT Pharmaceuticals | $69.3M | Placement | Yes |
| 15/6/20 | AIS | Aeris Resources Ltd | $7.3M | Placement | Yes |
| 3/6/20 | BUD | Buddy Technologies | $2.0M | Placement | No |
| 2/6/20 | CXO | Core Lithium | $5.5M | Placement | Yes |
| 1/6/20 | KYK | Kyckr | $4.7M | Placement | No |
| 28/5/20 | IXC | Invex Therapeutics | $16.3M | Placement | No |
| 28/5/20 | OSL | OncoSil Medical Ltd | $3.1M | Rights | No |
| 28/5/20 | XAM | Xanadu Mines | $1.1M | Placement | No |
| 26/5/20 | BYE | Bryron Energy | $13.8M | Placement | No |
| 20/5/20 | CHN | Chalice Gold Mines | $30.1M | Placement | Yes |
| 19/5/20 | NIC | Nickel Mines | $231.5M | Rights | Yes |
| 18/5/20 | MSB | Mesoblast | $137.6M | Placement | No |
| 15/5/20 | QFE | QuickFee | $6.9M | Placement | No |
| 15/5/20 | SGQ | St George Mining | $3.6M | Placement | Yes |
| 13/5/20 | MX1 | Micro-X Ltd | $6.2M | Rights | Yes |
| 11/5/20 | KTD | Keytone Dairy | $12.5M | Placement | Yes |
| 8/5/20 | OSL | OncoSil Medical Ltd | $14.0M | Placement | No |
| 7/5/20 | OVN | Oventus Medical | $4.6M | Placement | Yes |
| 5/5/20 | IMM | Immutep | $12.0M | Placement | No |
| 29/4/20 | FZO | Family Zone Cyber Safety | $10.0M | Placement | No |
| 28/4/20 | DEG | De Grey Mining | $31.2M | Placement | Yes |
| 28/4/20 | DGO | DGO Gold Ltd | $2.6M | Placement | No |
| 27/4/20 | VHT | Volpara Health Technologies | $28.0M | Placement | Yes |
| 23/4/20 | MX1 | Micro-X Ltd | $8.8M | Placement | Yes |
| 17/4/20 | KZA | Kazia Therapeutics | $7.2M | Placement | No |
| 16/4/20 | AHQ | Allegience Coal | $1.9M | Placement | No |
| 16/4/20 | PAR | Paradigm Biopharmaceuticals | $35.0M | Placement | No |
| 23/3/20 | CBR | Carbon Revolution | $25.0M | Placement | Yes |
| 6/3/20 | ODA | Orcoda | $1.2M | Placement | No |
| 5/3/20 | AOU | Auroch Minerals | $1.0M | Placement | No |
| 28/2/20 | DGO | DGO Gold Ltd | $9.6M | Placement | No |
| 7/2/20 | TNY | Tinybeans | $16.0M | Placement | No |
| 23/1/20 | HVM | Happy Valley Nutrition | $12.5M | IPO | Yes |
| 20/1/20 | FAR | FAR | $146.0M | Placement | No |
While Bell shares slightly declined in early trade, they are up approximately 30 per cent in the last 12 months.
