Listed broker cluster Austbrokers has raised its sights on an improved full-year result after tabling a 29% boost in net profit after tax for the first six months of the financial year.

Net profit after tax increased to $11.2 million in the six months to December 31 as several bolt-on acquisitions, organic growth and rising premiums boosted the group’s bottom line.

Underlying profit – excluding the contribution of new businesses acquired in the first half – was up 17% on revenues of $58.9 million.

Austbrokers shares rose 1.56% to $6.50 in early trading on the Australian Securities Exchange.

The company previously predicted net profit growth in the range of 5-10% above the same period last year, and has now forecast full-year net profit after tax would be 10-15% above the 2011 financial year.

Austbrokers completed three acquisitions between June and December last year for a combined $1.7 million, including a general insurance broking and life insurance agency based in Gladstone. Its members have made a further four acquisitions worth $2.7 million in income.

The group says premiums will continue to rise across property classes in 2012 at a “moderate level”, although future income from fees and commissions – which rose 15.6% in the first six months of the financial year – is uncertain following the high number of claims incurred last year.

Falling interest rates will also impact investment earnings in the second half, the company said.