An improved performance from Jardine Lloyd Thompson (JLT) operations in Australia and NZ has contributed to a 15% increase in the global group’s net profit of £42.5 million ($85 million).

Turnover in local insurance operations increased 8% in the first six months to £44.4 million ($88.8 million) as group turnover climbed 19% to £266.3 million ($532.6 million).

JLT says the Australasian business “continues to generate strong growth despite difficult economic conditions, particularly in the mining and construction sectors”.

That growth helped send group gross profit 15% higher to £61.3 million ($122.6 million) on total fees and commissions of £309.7 million ($619.4 million), a 16% gain.

Investment income slumped to £3.3 million ($6.6 million) from £7.1 million ($14.2 million) in the same period last year.

JLT CEO Dominic Burke says JLT’s strong balance sheet has allowed the company to seek bolt-on acquisitions, target talented individuals and identify niche profitable operations and sectors.

“While the general economic background continues to be challenging, we continue to expect that 2009 will be a year of further progress for JLT.”