PSC Insurance Group MD Tony Robinson is “absolutely delighted” with how the business has performed in the December half, fuelled partly by acquisitions made over the past few months.

The Melbourne-based listed broker announced last week a 13% improvement in statutory after-tax net profit to $8.8 million in the six months to December 31. On an underlying basis it grew 18.5% to $11.2 million.

Recent additions to the business, such as the £42 million ($81.6 million) acquisition of London-based Paragon International, contributed about $20.1 million in incremental revenue during the period.

Underlying revenue increased 37% to $74.8 million, including $13.9 million from Paragon, and $4.7 million from Griffiths Goodall, the Victorian brokerage acquired last July for $48 million.

“We’re absolutely delighted with the performance and pleased with the way each of the parts of the business performed,” Mr Robinson told insuranceNEWS.com.au. “It’s a tribute to the calibre of the people in the business and the services they provide.”

PSC says the business remains on the lookout for potential acquisitions including in Australia, the UK and Hong Kong, where it already has a stake in insurance brokerage Charter Gilman through a $1.01 million investment made last July.

The brokerage sees the “possibility of taking a holding in a small business in Hong Kong to test the opportunities in that region”.

The wave of political unrest that rocked the self-governing Chinese territory last year has not dented PSC’s plans, Mr Robinson says.

“Commerce goes on, businesses still need to access insurance and brokers play an important role in the marketplace in providing that,” he told insuranceNEWS.com.au.

“So, would you like it to be more stable? In some ways yes, but sometimes these sorts of moments create the best opportunities to get a foothold. It encourages people to seek the safety of larger organisations.”