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AUB announces 'good progress' on performance

AUB has reaffirmed its full-year earnings guidance, with the business on track to deliver “toward the top” of its forecast of an 8-10% rise in adjusted after-tax net profit.

The business made $46.4 million in adjusted after-tax net profit in the previous financial year.

In an investor update today, AUB says the guidance "includes smaller acquisitions and disposals in partner businesses”. These businesses are mainly members of the Austbrokers and SURA networks.

AUB does not provide specific comments related to “small increases and decreases” in the shareholdings that it holds in partner businesses, the company told insuranceNEWS.com.au.

CEO and MD Mike Emmett is pleased with how the business has performed in the first-half of the year to December 31.

“We’ve made good progress with our strategic initiatives, and in improving the underlying performance of the group,” he said.

AUB will release its half-year results on February 25.