Shares of PSC Insurance climb as much as 4% to A$4.990, their highest since July 5.

The financial services provider upgrades its underlying earnings before interest, tax, depreciation and amortisation forecast to about A$111 mln ($73.35 mln) for FY2023, vs its previous outlook of between A$104 mln and A$108 mln.

Co also sees FY24 prelim underlying EBITDA in the range of A$122 mln to A$127 mln, with operating segments positioned well for growth.

“The FY24 guidance is pleasing given PSI has been perceived to have less tailwinds from the strong renewal rate increases being seen in property related risk classes,” analysts from E &P Financial say.

Shares on track for best day since July 21, if gains hold.

Stock down ~4.2% this year, as of last close.

PSC Insurance is a financial services provider based in Australia.