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22nd Apr 2020

JTC has reported another strong year of trading, with Group revenue for 2019 increasing by more than 28% to £99.3m.

Published today (22 April), the company’s 2019 full year results show that JTC, which is headquartered in Jersey and listed on the Main Market of the London Stock Exchange (LSE), grew revenues by 28.5% to £99.3m in 2019, reflecting a combination of net organic growth of 8.4% (15.4% gross) and growth from acquisitions of 20.1%.

In line with expectations, JTC also reported an increase in its underlying EBITDA profit margin of 0.9pp to 31.9%.

Across its Divisions, Institutional Client Services (ICS) reported a 26.4% increase in revenue to £54.8m whilst Private Client Services (PCS) reported a 31.2% increase to achieve revenues of £44.5m. These positive results were driven by a record year for new business wins in 2019 totalling £14.9m across the Divisions, comprising £8.9m won by ICS – up 48% from 2018 – and £6m by PCS – up 62%.

In addition, JTC acquired Exequtive Partners in Luxembourg and small bolt-ons in the Cayman Islands and Netherlands, during the reporting period for 2019. Meanwhile, reflecting JTC’s shared ownership culture, JTC was also included as a case study in Harvard Business School’s MBA programme in 2019.

Nigel Le Quesne, Chief Executive Officer of JTC, said:

“2019 has seen another strong set of results maintaining our 32 year record of revenue and profit growth. In particular, we have seen good revenue growth, further margin improvement and record new business wins in both Divisions. We have maintained our disciplined approach to acquisitions with Exequtive Partners in 2019 and the Sanne private client business and NES Financial (US fund services) in Q1 2020.

“I would like to take this opportunity to extend my thanks to the excellent JTC team for their dedication and support in 2019 and in particular in their response to the challenges brought by the Coronavirus pandemic in 2020.”

Click here for the 2019 full year results.


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