Nigel le Quesne, Jersey Finance

JTC reports positive growth in annual results


JTC has reported positive growth in 2018 and a particularly strong improvement in its profit margin in its first set of full year results as a public company.

The results show that JTC, which is headquartered in Jersey and listed on the Main Market of the London Stock Exchange (LSE), grew revenues by 29.3 per cent to GBP77.3 million in 2018. This reflects a combination of net organic growth of 8.7 per cent and growth from acquisitions of 20.6 per cent. 

In addition, JTC reported a material increase in its underlying EBITDA profit margin to 30.9 per cent (up from 24.1 per cent in 2017) due to a focus on improving 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 per cent increase in revenue to GBP43.4 million and PCS a 43 per cent increase to GBP33.9 million. The Group saw strong growth of 25 per cent in its new business enquiry pipeline to GBP32 million as at 31 December 2018, with GBP2.7 million of that pipeline already secured pending client on-boarding.

Nigel Le Quesne (pictured), Chief Executive Officer of JTC, says: "We are pleased with our first full year results since listing and in particular to have built on the positive momentum from the first half of the year and delivered on the key objectives we set out at the time of IPO. Performance in both our Institutional and Private Client Divisions was strong, highlighting our 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 fast growing providing or corporate and related fiduciary services in Luxembourg. 

“We continue to manage an active pipeline of acquisition opportunities in what we see as a market that is still ripe for further consolidation. The senior management team was strengthened through acquisitions, new hires and internal promotions and this continues to form an important part of our drive to improve performance across jurisdictions and service lines. Our people and our shared ownership approach remain at the heart of JTC and I would like to thank every member of the JTC team globally for their contribution to our success in 2018.”

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