sydneysteadfast group ltds shares rose in wednesday morning trade after upgrading its earnings guidance on the heels of reporting inline results for the first half of fiscal 2022 shares of the australian general insurance broking network were 42 higher at 489 australian dollars us354 steadfasts highest close this year was a537 in early january for fiscal 2022 steadfast raised its guidance for underlying earnings before interest taxes depreciation and amortization to a330 milliona340 million from the previous a320 milliona330 million while underlying net profit guidance was increased to a163 milliona170 million from a159 milliona166 million the companys net profit for the six months through december rose 43 to a1049 million which was in line with consensus estimates revenue was a4619 million up 26 from a year earlier chief executive robert kelly said steadfast had again delivered a record financial and operating result for the first half which allowed it to upgrade its earnings guidance range investment bank barrenjoey said the guidance upgrade was driven entirely by stronger organic growth expectations with the stock currently trading at a priceearnings ratio discount to peers but with significantly more balance sheet capacity steadfast is on track to benefit from a strengthening insurance pricing cycle over the next 12 months while also having fund capacity for further acquisitions according to some analysts