JTC's revenue hits £77m

Thursday 18 April 2019

JTC grew its revenues to £77.3million last year - growth of 29.3%.

The financial firm said the results had come about thanks to 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 profit margin to 30.9% (up from 24.1% 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 the first reporting a 20.2% increase in revenue to £43.4million and the latter a 43% increase to £33.9million.

Pictured: JTC, which is based on the Esplanade in St. Helier.

CEO Nigel Le Quesne commented: "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," he added.

"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.”