JTC releases interim results

Thursday 22 September 2022

Jersey-headquartered JTC said it has produced "another strong set of interim results" with revenue growth, and increased profits reported during the first half of this year.

The firm, which also has a presence in Guernsey, said it has recorded growth in revenue of 38.8% to £93m for the period ending 30 June 2022.

Underlying profit (EBITDA) was also up 40.1% to £30.7m.

Other strategic highlights are said to include a focus on delivering the integration of seven acquisitions made in 2021

Commenting on the half year results, Nigel Le Quesne, Chief Executive Officer of JTC PLC, said: "JTC's exceptional resilience and entrepreneurial growth capabilities have been reflected in a strong financial performance, meeting all our guidance metrics, including a substantial reduction in leverage. The ICS Division was the star performer, with excellent growth and continued margin progression. The PCS Division maintained strong margins as it continued with planned investments that will drive future growth and is poised to benefit in H2 from the on-boarding efforts undertaken in H1.

"Our inorganic efforts in the period focused on integration of the seven deals completed in 2021. We maintain our disciplined approach to selecting new targets and we were delighted to announce the acquisition of NYPTC in Delaware post period end. The business carries good momentum into H2 and we are excited by the progress we anticipate in the remainder of the second year of our Galaxy era plan. We see tremendous opportunities for the Group moving forward. As always, my thanks go to the outstanding JTC global team for their hard work and dedication to our culture and success."