Last year’s acquisitions have made a solid contribution to PSC Insurance Group’s profitability, with net income reported at $5 million for the half-year to December 31, up 304% on the corresponding period in 2015.

Revenue was up 33% to $36.7 million in the six months.

The acquisitions, which include the Australian Reliance and Reliance Partners businesses and Holman in the UK, contributed $7.7 million of the $9 million revenue increase.

The insurer says the half-year was “a period of integration and consolidation”, and it expects the acquisitions will continue to perform well.

“The group has further focused on building its acquisition and new business pipeline of opportunities. We are confident this focus will lead to positive developments and outcomes for the group in the near future.”