AUB Group has raised its full-year earnings outlook after the first-half performance topped its guidance range as a result of robust trading and the Tysers acquisition performing ahead of expectations.

The company, which will release its half-year results next Wednesday, says positive trading conditions are expected to continue during the current six months.

The broker now expects to deliver underlying net profit after tax, including Tysers, in a range of $112.9-121.4 million, up from the previous $107.5-115 million range.

AUB says the upgraded guidance represents growth of 52.5-64% on the previous corresponding period.

The guidance includes nine months of Tysers profits and assumes continued strong premium rate rises for Australia and moderate but accelerating rate rises in New Zealand.

For the first half, AUB expects to report underlying net profit after tax of $46.7 million, an 8.5% increase above the mid-point of the $41.5-44.5 million guidance provided on December 12.

AUB says the company experienced robust trading in November and December and earnings will continue to be driven by the execution of strategic growth initiatives and the Tysers performance.

The landmark $880 million aquisition of Lloyd’s wholesale broker Tysers was announced in May last year, with the acquisition contributing to AUB earnings from October 1.