‘2022 arguably our best year ever in my 30 years at JTC’
JTC achieved £200m. in annual revenues for the first time in 2022.
The firm, founded and still headquartered in Jersey, and now listed as a FTSE 250 company, reported a 35.6% increase in total revenue, with net organic growth rising to 12% and new business wins worth another £24.6m. Operating profit came in at £33.8m.
Merger and acquisition activity also continued to support growth, with seven businesses bought in 2021 being integrated over the course of 2022, further bolstered by the key strategic acquisition of the New York Private Trust Company last year.
‘2022 was arguably our best year ever in my 30 years at JTC,’ said CEO Nigel Le Quesne.
‘The group has once again extended its 35-year track record of profitable growth and carries strong momentum into 2023. We expect to exceed our guidance for organic growth and maintain a healthy pipeline of acquisition opportunities.
‘Thanks to the outstanding efforts of our global team of employee-owners, we are on course to deliver our Galaxy-era business some two years earlier than anticipated.’
Institutional client services reported revenues up 47% and private clients saw a 15.7% rise, and growth in the US was particularly strong.
The company said the results left it two years ahead of schedule in realising its objective to double the size of the business from its performance in 2020.
