How Did Bentley Capital Turn a $877K Loss into a $779K Profit in Six Months?
Bentley Capital Limited has reversed its previous losses to report a $779,000 profit for the half-year ending December 2025, driven by strong gains in its Strike Resources shareholding and a legal settlement with Keybridge Capital.
- Half-year profit of $779,000 reversing prior loss
- Unrealised $0.55 million gain on Strike Resources shares
- Received $250,000 settlement from Keybridge legal claim
- Net tangible asset backing per share up 158% to 1.67 cents
- Director changes with Victor Ho appointed Executive Director
Financial Turnaround
Bentley Capital Limited (ASX: BEL) has reported a significant turnaround in its financial performance for the half-year ended 31 December 2025, posting a profit after tax of $779,000 compared to a loss of $877,000 in the previous corresponding period. This improvement was largely driven by a net gain of $0.55 million on its investment portfolio, primarily unrealised gains on its substantial holding in Strike Resources Limited (ASX: SRK).
Investment Portfolio Highlights
Bentley holds 53.7 million shares in Strike Resources, representing an 18.9% stake. The SRK share price fluctuated between 2.8 and 5.2 cents during the half-year, closing at 4 cents as of 31 December 2025. This appreciation contributed to an unrealised gain of $612,000. Bentley also maintains a minor holding in Lithium Energy Limited (ASX: LEL), though its shares remain suspended from trading since October 2024, valued at the last bid price of $0.35.
Legal Settlement Boosts Income
Adding to the positive results, Bentley settled a longstanding legal claim against Keybridge Capital Limited, receiving $250,000 in November 2025. The settlement relates to a Federal Court judgment requiring Keybridge to contribute to Bentley’s legal costs. While the terms remain confidential, the payment has bolstered Bentley’s revenue for the period.
Balance Sheet and Governance
Bentley’s net tangible asset backing per share surged 158% to 1.67 cents, reflecting the improved valuation of its investments and cash position. The company holds net assets of $1.27 million, up from $492,000 at June 2025. No dividends were declared for the half-year. Governance changes included the appointment of Victor Ho as an Executive Director, enhancing the board’s expertise in investment management and corporate governance.
Outlook and Risks
The company continues to manage operational, market, and compliance risks with established policies and oversight. Bentley’s future performance remains closely tied to the market performance of Strike Resources and the resolution of Lithium Energy’s ASX suspension. The directors remain cautious but optimistic about ongoing investment opportunities and capital management strategies.
Bottom Line?
Bentley’s rebound underscores the pivotal role of its Strike Resources stake, but market volatility and suspended assets keep investors watchful.
Questions in the middle?
- Will Lithium Energy’s ASX suspension be lifted, and how will it impact Bentley’s valuation?
- What are the strategic plans for Bentley’s remaining Keybridge shares and legal exposures?
- Could Bentley consider dividends or capital raising given its improved financial position?
