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JT increased its turnover by 41% from £185m to £261m in 2017, creating an operating profit for the year of a little over £11m, according to its latest Annual Review.
The results were mainly driven by the growth in JT's International business, as 70% of the group's revenue now comes from outside of Jersey.
JT is now signing up more than 1,600,000 mobile devices around the world, connecting equipment from heart monitors to payment systems, ‘smart’ traffic lights, solar farms and livestock trackers.
Pictured: Phil Male, Chairman of JT group.
Commenting on the results, Group Chairman Phil Male said: “Since I joined the JT board as a non-executive director seven years ago, it has been immensely satisfying to see the company evolve from a locally-focused telecoms operator into a global business. JT SIMs now power more than 1,600,000 devices worldwide, taking advantage of JT’s 750 roaming agreements with other mobile network operators.
“We are also enabling a number of ‘world first’ innovations in Jersey. Due to the island’s ‘manageable’ size, existing mast network and diversity of terrain, we are fast becoming an ideal ‘sandbox’ for innovation, and global giant Sony has recently chosen the island and JT to test its technology. Technology is always changing but JT is an innovative business that is passionate about connecting our islands.”
During 2017, JT connected another 11,000 broadband customers to their fibre-optic broadband network, with the total now reaching 38,700, with the remaining customers connected by the summer, making Jersey the most connected place in the world, in terms of the percentage of its broadband customers connect to a full-fibre network.
Pictured: Graeme Millar, JT’s CEO.
Graeme Millar, JT’s CEO, said: “2017 was a year of strong growth for the JT Group, particularly for our International division, whose success helps to support our activities here in the Channel Islands.
“Following the same accolade in 2016, 2017 once again saw our 4G mobile network confirmed by Ookla –the globally recognised leader in internet performance testing –as the fastest in the Channel Islands; and we reached our targets for connecting broadband customers to high-speed fibre optic cabling. Significant investment in our Channel Island networks has made the Islands one of the best-connected places in the world; I’m really looking forward to seeing our customers using those networks both at work and at home, to really make the most of the digital opportunities which are available. It’s a tremendously exciting time, and JT’s role is enabling the Channel Islands to be right at the heart of it.”
Video: JT replaced the old copper cabinets at La Collette flats with full-fibre network.
This year, JT is focusing on its next project, removing the old copper network that fibre has replaced. La Collette flats recently became the first part of the Island to get rid of their decades old copper telephone network. The replacement will continue throughout 2018 as old wires and cabinets are decommissioned. Phil Male said: "At that point, Jersey will become the world’s first full-fibre Island, putting us ‘leaps and bounds’ ahead of other, much larger, jurisdictions."
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