Steadfast Group says trading conditions remained strong in June, placing the business in pole position to meet the 2019/20 earnings target it was forced to discard because of uncertainties created by the pandemic.

Unaudited preliminary figures suggest earnings before interest, tax and amortisation (EBITA) will be at the top end of its pre-virus guidance of $215-225 million, the broking giant said in a brief investor update today.

Steadfast will release its financial results for the year to June 30 on August 26.

Since the virus outbreak was declared a pandemic in March, Steadfast has been providing regular updates of its trading results. In the previous update, the broker said EBITA for the 11 months to May remained in line with pre-virus expectations.

In the December half, Steadfast recorded a 39.1% rise in underlying net profit after tax to $53.2 million while EBITDA, also on an underlying basis, increased 27.5% to $108.9 million.

At the first-half earnings presentation CEO and MD Robert Kelly said he was upbeat on the Australian rate cycle, and predicted the bushfire disasters and other catastrophes last summer should support rising premiums for the next two years.