Growth spurt of 8.7% for JTC in first year as PLC
POSITIVE GROWTH has been reported by JTC – which has offices in Jersey and Guernsey – in its first set of full year results as a public company.
Revenues for the global institutional and private client service provider grew by 29.3% to £77.3m. in 2018.
This reflected a combination of net organic growth of 8.7% and growth from acquisitions of 20.6%.
In addition, the Jersey-headquartered business reported strong performances by its institutional client services and private client services divisions.
The group saw growth of 25% in its new business enquiry pipeline to £32m. as at 31 December 2018, with £2.7m. of that already secured pending client on-boarding.
Nigel Le Quesne, chief executive officer of JTC, said: ‘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 initial public offering.
‘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.’
He added: ‘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.’