JTC reports further growth in interim results
JTC has reported further growth in the first half of 2019 in its interim results, published today (17 September).
The results show that JTC, which is headquartered in Jersey and listed on the Main Market of the London Stock Exchange (LSE), grew revenue in the first six months of 2019 by 32% period-on-period to stand at £46.6m. This reflects a combination of net organic growth of 8.2% and growth from acquisitions of 23.8%.
In addition, JTC reported an increase in earnings (adjusted underlying EBITDA) of 35.2% to £14.3m (up from £10.5m in the first half of 2018) and in its underlying profit margin to 30.6% (up from 29.9% compared to the same period in 2018).
Strong performances by both the Institutional Client Services (ICS) and Private Client Services (PCS) Divisions were also noted in the figures, with ICS reporting a 27.6% increase in gross revenue to £25.4m and PCS a 37.7% increase to £21.2m.
The results also pointed to the investment JTC has made in its global platform through the enhancements made to its senior management team, including the appointments of a new Group Head of ICS and Chief Commercial Officer, developments in technology and business processes and the efficient integration of its recently acquired businesses (Minerva, Van Doorn and Exequtive Partners).
Nigel Le Quesne, Chief Executive Officer of JTC PLC, said: “We have maintained the momentum from our strong first set of full year results into the first half of 2019. We saw good growth in revenue and our underlying earnings compared to the same period last year. Pleasingly, both our institutional and private client services divisions have performed well as we continue to take a balanced approach to servicing the market, whilst the integration of the businesses acquired is progressing as planned.
“Overall, the Group is trading in line with expectations and we are confident that this momentum will be carried into the second half of the year. We believe the Group is well positioned to take advantage of any opportunities that arise and I thank all members of the JTC team for their ongoing contributions.”
The full set of results can be found here.
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about jtc
JTC is a publicly listed, award-winning provider of fund, corporate and private wealth services to institutional and private clients.
Founded in 1987, we have c.700 people working across our global office network and are trusted to administer assets of c.US$110 billion.
The principle of true shared ownership is fundamental to our culture and aligns us completely with the best interests of our clients.
REGULATION AND TERMS OF BUSINESS
JTC Group entities that carry on regulated business are (respectively): regulated by the British Virgin Islands Financial Services Commission; the Cayman Islands Monetary Authority; the Guernsey Financial Services Commission; the Jersey Financial Services Commission; the Commission de Surveillance du Secteur Financier and the Ordre des Experts-Comptables (Luxembourg); the Financial Services Commission (Mauritius); De Nederlandsche Bank (Netherlands), the South African Financial Sector Conduct Authority as an authorised financial services provider; chartered and regulated to provide trust services by the South Dakota Division of Banking in South Dakota (USA) ; a member of l’Association Romande des Intermédiaires Financiers (Switzerland); licensed by the Isle of Man Financial Services Authority and authorised and regulated by the Financial Conduct Authority (UK).
For our full website disclaimer, please visit: www.jtcgroup.com/disclaimer. For JTC Group’s full terms of business, please visit: www.jtcgroup.com/terms-of-business.
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