Jersey-headquartered financial services group JTC has announced its first set of results as a London-listed company, reflecting a strong performance over the first six months of 2018.
The results, announced to the market on 18 September, show that overall group revenue increased by £7.1 million (25.2 per cent) to £35.3 million and that underlying profits rose by £3.1m (56 per cent) to £8.6 million compared with the same period last year.
The firm says the growth was achieved through a mixture of net organic growth and a positive contribution of the two acquisitions made during 2017 – New Amsterdam Cititrust in the Netherlands and the Bank of America Merrill Lynch International Trust and Wealth Structuring business in the US, Cayman Islands, Geneva, Isle of Man and Singapore.
There was a strong performance by two divisions – Institutional Client Services (15.3 per cent increase in total revenue) and Private Client Services (40.7 per cent increase in total revenue).
Nigel Le Quesne (pictured), JTC Chief Executive Officer, said: “As well as good progress integrating the businesses acquired in 2017, we have made two further acquisitions post-period end of Van Doorn (Netherlands) and Minerva (Jersey, London, Geneva, Dubai, Mauritius and Singapore). We have several other potential targets where we are engaged in negotiations."
The full set of interim results for the six months ending 30 June 2018 are available here.