JTC reports growth in annual results

Posted: 03/04/2019

Nigel Le Quesne_sept18Jersey-based financial services provider JTC has reported positive growth in 2018 and a strong improvement in its profit margin, in its first set of full-year results as a public company.

The business, which is listed on the Main Market of the London Stock Exchange, grew revenues by 29.3% to £77.3m in 2018 – a combination of net organic growth of 8.7% and growth from acquisitions of 20.6%. 

In addition, JTC reported a material increase in its underlying EBITDA profit margin to 30.9% (up from 24.1% in 2017), which it attributes to improved operational efficiency, as well as increased sales. 

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 20.2% increase in revenue to £43.4m and PCS a 43% increase to £33.9m. 

The group saw strong growth of 25% in its new business enquiry pipeline to £32m as at 31 December 2018, with £2.7m of that pipeline already secured pending client on-boarding.

JTC Chief Executive Officer Nigel Le Quesne (pictured) commented: "Performance in both our institutional and private client divisions was strong, highlighting a balanced approach to servicing the markets, with organic growth improving in the second half of the year. 

"The businesses we acquired in 2017 were fully integrated into the group and good progress was made with integrating the two businesses acquired in 2018. We also acquired, post period end, Exequtive Partners, a fiduciary services provider based in Luxembourg.”

• The full set of results can be found here

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