Jelf Group has more than doubled its profits for the year ending 30 September 2006 to £3.3m from £1.3m.

It comes as the Bristol-based broker announced the acquisition of healthcare consultancy SPS Wellbeing in a deal worth £10m.

It is the sixth business to be acquired by Jelf in the past year.

The acquisition will generate healthcare income of £125m for the group and will add £100m GWP to its general insurance book.

The AIM-listed broker said normalised earnings per share increased 65% to 12.4p from 7.5p in 2005.

Turnover also more than doubled to £25.1m, from £11.5m a year earlier.