JT Group has published its Annual Review for 2016, showing a 14 per cent increase in operating profit on the previous year.
Gross profit rose by one per cent to £90.7 million, which JT attributes mainly to its international machine-to-machine business that enables communication between devices via a mobile network. This allowed JT to deliver a dividend to the States of Jersey up from £4.1 million to £5.5 million.
According to the group, the year saw considerable growth in JT’s international business, which now accounts for 65 per cent of the company’s revenue. A particular focus is on the Internet of Things, which allows JT to use roaming agreements with other operators around the world.
Closer to home, IoT is enabling JT to offer new communications technologies to its customers in Jersey. In December, the company launched the Channel Islands’ first low-power radio network, LoRa, which allows devices to share data securely.
JT CEO, Graeme Millar, commented: “2016 was a year of investment, diversification, relationship-building. The most obvious is the continuing rollout of our Gigabit project in Jersey – we are close to all broadband households having a superfast connection to the internet.”
To see a copy of JT’s 2016 Annual Review & Financial Statements click here