PSC Insurance Group says the business continued to perform strongly in the second half, prompting another upgrade in its earnings outlook for the year to June 30. 

The Melbourne-based listed broker’s revised estimate has underlying earnings before interest, tax, depreciation and amortisation (EBITDA) at about $111 million. In February the business had raised its forecast to $104-108 million from $101-105 million after a strong first-half. 

“The group has had continued strong performance in the second half of the financial year and all operating segments produced pleasing results,” PSC says in a market announcement ahead of the release of its full-year results on August 23. 

However, the 2022/23 result remains subject to audit and the usual end of year signing processes, PSC says. 

PSC is also confident the business momentum will carry through to this financial year, forecasting earnings will exceed its 2022/23 performance. 

Its preliminary guidance for this financial year estimates underlying EBITDA of $122-127 million. The guidance will be confirmed following finalisation of the 2022/23 audit and further detail will be provided with the formal release of results later this month. 

“In considering the current financial year 2024, the Board is optimistic of the Group’s prospects, with all operating segments positioned well for growth,” PSC says. 

PSC says the earning range excludes the contribution of any acquisitions which may be undertaken during this financial year.