Global broker Arthur J Gallagher has turned in a solid performance for the six months to June 30, posting a 75% increase in net profit.

The group reported net profit of $US99.8 million ($95.3 million) for the first half, compared to $US56.9 million ($54.3 million) for the first half of last year. Revenue increased 20% to $US1.2 billion ($1.1 billion).

Chairman, President and CEO Patrick Gallagher says the company is “well-positioned to grow as the insurance rate environment improves and our customers continue to find ways to grow, even in an uncertain economy”.

In the second quarter the company’s broking division recorded an 18% rise in revenue and a 25% jump in profit compared with the corresponding period last year.

These figures are in spite of the company still incurring the cost of its acquisition last May of UK broker Heath Lambert, with integration costs of $US8.1 million ($7.7 million) recorded for the first half and integration costs set to continue until next year.

Mr Gallagher says the company’s appetite for acquisitions has not slowed, with 15 acquisitions made in the second quarter. He says the company’s “acquisition pipeline remains strong”.