Steadfast has dialled up its earnings outlook after reviewing its preliminary trading results in the first seven months of the 2022/23 financial year.

Underlying earnings before interest, tax, depreciation and amortisation (EBITA) is now projected at $420-430 million, up from $400-420 million previously and underlying net profit after tax has been revised to $198-208 million from $190-202 million.

The update comes ahead of the release on Wednesday of Steadfast’s first-half results for the six months to December.

Steadfast said in an update last October that underlying EBITDA for the September quarter was about 24% better than a year earlier and ahead of projections.

CEO Robert Kelly said higher premium rates after recent catastrophes, along with volume growth, were driving earnings higher.