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JTC revenue grows by a third

JTC revenue grows by a third

Tuesday 24 September 2019

JTC revenue grows by a third

JTC has seen its revenue grow by nearly a third in the first half of the year to stand at £46.6m.

The firm's interim results show 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.

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.”

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