PSC Insurance Group says today the business expects to report a more than 50% jump in underlying pre-tax earnings when its half-year financial results are released on February 22.

The projected earnings increase, outlined in a market update released this morning, predicts underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of about $28.7 million for the six months to December 31.

In its previous update in November, the business said underlying EBITDA grew 40% in the first four months of the current financial year.

The Melbourne-based listed broking group says based on current trends, underlying EBITA remains on track to fall at the top end of its $65-70 million full-year guidance as previously advised.

“This result reflects strong organic growth both in Australia and the UK, as well as a benefit from the inclusion of a full six-month contribution from acquisitions made in the prior corresponding period,” PSC says in the market update.

“In addition, the company continues to progress a number of acquisition opportunities and, following the recent capital raising, is well placed to fund those transactions from existing resources.”

MD Tony Robinson says the company is pleased with the state of the business.

“We are obviously delighted with the result, both the contribution from the businesses that joined the group last year and the organic growth results generated from the existing businesses,” he told insuranceNEWS.com.au today.

“It is definitely an outcome that is a product of the calibre of the people in those businesses and their focus on our clients.”

In November PSC announced it had raised $60 million from investors to fund new acquisitions, having already identified broking targets here and in the UK.