Steadfast Group's latest trading update suggests the business is on course to meet the guidance set before the virus pandemic took hold in March.

The broking giant says today that earnings before interest, tax and amortisation (EBITA) for the 11 months to May remains in line with pre-virus expectations. Before the pandemic broke out, Steadfast forecast an EBITA of $215-225 million for this financial year, but the guidance was discarded because of the pandemic disruption.

Last month the business noted continued rate increases from insurers and some small volume reductions in its broker network, but these were offset by expense-saving measures.

Steadfast Underwriting Agencies also continued to outperform with strong organic and EBITA growth.

Steadfast will release its financial results for this financial year on August 26.