Black Bull Group Limited, the New Zealand based company which operates the Retail FX and CFDs BlackBull Markets brokerage brand, has released its financial statements for the fiscal year ended March 31, 2026, showing continued growth in Revenues and Client Assets, although increased costs left the company with lower profits than in 2025.
Revenues at BlackBull came in at NZD $41.2 million (USD $24 million) in 2026, up by 30% from NZD $31.7 million in 2025. Net Profit was NZD $1.7 million (USD $1.0 million) in 2026, down slightly from NZD $2.0 million the previous year.
Client assets at BlackBull totaled NZD $99.0 million (USD $57 million) as at fiscal year end 2026, up nicely, by 85%, from NZD $53.4 million in 2025.
We had reported back in March that BlackBull Markets is planning to go public, likely via a dual listing IPO for the company in Australia and New Zealand. An Australian Financial Review article at the time stated that BlackBull had brought in Revenue of AUD $62 million (USD $43 million) range over the past year, with net profit in the range of AUD $22 million (USD $15 million). Those figures are significantly above the now-released FY2026 numbers for Black Bull Group Limited, although the AFR’s totals (if correct) could include the results other group companies.
BlackBull is controlled by co-founders CEO Michael Walker and Director of Operations Selwyn Loekman. UK institutional trading firm LMAX and New Zealand investment firm Milford Asset Management hold minority stakes in the company.