JTC REPORTS FURTHER GROWTH IN INTERIM RESULTS

We are delighted that our Interim Results for H1 2019 released today report further growth for the first half of the year.

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.”

View the full set of results.

View the presentation deck.