Highlights

  • Bentley Capital (ASX:BEL) reported FY26 profit after tax of AUD 255,000, compared with an AUD 878,000 loss.
  • FY26 revenue reached AUD 349,000, including AUD 343,000 of other income.
  • September 2026 net tangible asset backing was 0.341 cents per share, up 10.3% from August.
  • Strike Resources remained the largest identified holding in Bentley Capital’s September portfolio.

Bentley Capital Limited (ASX:BEL) is an Australian listed investment company that allocates capital to selected emerging businesses, predominantly through equity interests. Its recent disclosures cover a return to profit for the financial year ended June 2026 and a subsequent movement in monthly net tangible asset backing. On 22 October 2026, Bentley Capital Limited (ASX:BEL) closed at AUD 1.00, down 1.96% for the session.

Company Business

Bentley seeks concentrated investments in listed companies and may consider private businesses or projects with a prospective listing or other exit. Its mandate spans sectors including resources, energy, technology and services, rather than a single operating industry. Returns mainly reflect portfolio valuations and investment realisations.

The FY26 report identified an equity position of approximately 53.7 million shares in Strike Resources, representing about 18.9% of that company. It also disclosed a smaller direct position in LE Minerals. Bentley Capital (ASX:BEL) has indirect resource-project exposure through those investments.

Recent Development

In October 2026, Bentley reported unaudited after-tax net tangible asset (NTA) backing of 0.341 cents per share at 30 September, compared with 0.309 cents at 31 August, an increase of 10.3%. The September disclosure valued its Strike Resources holding at approximately AUD 1.02 million and other listed securities at AUD 50,000. Cash was approximately AUD 390,000, while net other assets and liabilities amounted to negative AUD 1.20 million.

The September figures translated into net tangible assets of approximately AUD 260,000. Bentley Capital (ASX:BEL) has also communicated updates to its annual general meeting arrangements and shareholder communications during October.

Financial Performance and Sector Context

For FY26, Bentley reported revenue of AUD 349,000 versus AUD 3,000 in FY25. Other income of AUD 343,000 formed most of the FY26 revenue, while interest income was AUD 6,000. The company recorded a net AUD 14,000 gain on financial assets carried at fair value through profit or loss, compared with an AUD 572,000 loss in FY25.

Net profit after tax was AUD 255,000, reversing the FY25 loss of AUD 878,000. Total expenses declined to AUD 94,000 from AUD 881,000. The company attributed a significant part of FY26 earnings to AUD 250,000 received through settlement of a legal-cost claim and AUD 50,000 recovered from deposit-related settlements. These were settlement receipts rather than recurring investment income.

At 30 June 2026, cash and cash equivalents were AUD 289,000 compared with AUD 3,000 one year earlier. Investments were AUD 1.664 million and liabilities AUD 1.207 million, leaving net assets of AUD 747,000. June NTA backing stood at 0.98 cents per share, compared with 0.65 cents in June 2025. Bentley Capital (ASX:BEL) did not declare an FY26 dividend.

NTA is a per-share measure of tangible assets after liabilities, distinct from the market share price.

Risks to Consider

Portfolio concentration is material. At September-end, the reported Strike Resources investment alone exceeded the company’s total NTA, reflecting offsetting liabilities. Changes in that holding’s value can therefore affect reported asset backing disproportionately. Other risks include investee funding requirements, liabilities and limited recurring income.

What to Watch Next

Monthly NTA announcements will indicate how underlying listed investments and other balance-sheet components evolve. Future reports may detail cash use, liabilities and investment gains. Bentley Capital (ASX:BEL) investors may monitor investee disclosures, AGM materials and distribution decisions.

Key Insights

Bentley returned to a statutory profit in FY26, assisted materially by settlement receipts, while its September 2026 NTA backing remained below the June reporting-period figure. The principal financial considerations are asset concentration, investee valuations, liquidity and the relationship between portfolio assets and liabilities. Future disclosures will update those measures.