Newly merged insurance premium funder Centrepoint Alliance has had a happy debut, reporting big jumps in both profit and revenue for the first half of the 2006 financial year. MD Rick Nelson says the results indicate the success of the merger, which took effect from October 1 last year.

“[The] integration of the two groups has been a tremendous success,” he said.

Total revenue net of loan commissions is up 66% to $12.6 million. Net after-tax profits have grown 50% to $2.2 million. Of that result, the group’s insurance premium funding operations accounted for $1.7 million (77%).

As the former Centrepoint group only joined with Alliance for the fourth quarter of 2005, only half of its results were included in the half-year statement to the Australian Stock Exchange.

Mr Nelson is therefore confident the full-year results will boast even more improvement. With this merger proving so successful, Alliance is also on the look-out for further growth opportunities.

“The outlook for the next six months and beyond is very positive,” he said. “The group has an appetite for further business acquisitions in relevant markets.”