JTC PLC Trading Update (6403A)
23 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMJTC
RNS Number : 6403A
JTC PLC
23 January 2020
23 January 2020
JTC PLC
(the "Company" and together with its subsidiaries "JTC" or the
"Group")
Trading Update
Good performance continued in H2; confident in outlook for
2020
JTC, a global provider of fund, corporate and private client
services, today issues the following trading update in advance of
its full year results for the year ended 31 December 2019.
The Company continued to perform well during the second half of
the year. Full year revenue was within the range of analyst
expectations1, with organic growth within the 8-10% company
guidance. Adjusted EBITDA was also in line with consensus
expectations with a further year-on-year improvement in EBITDA
margin.
Performance in the Private Client Services (PCS) Division was
particularly strong, consistent with JTC's status as the 2019 STEP
Large Trust Company of the Year. New business performance showed
good momentum with the Group winning new business with an
annualised value of GBP14.9m in the year (GBP9.7m at FY 2018).
Exequtive Partners, the Luxembourg-based corporate services
provider acquired in March 2019, has integrated well, broadening
the Group's capabilities in a key Institutional Client Services
(ICS) Division jurisdiction.
The Company continues to see a number of interesting M&A
opportunities that fit with JTC's disciplined approach to inorganic
growth and balance sheet management. In light of these, the Company
has increased its banking facilities by an additional GBP50m,
taking its total credit facility to GBP150m.
The Board expects that full year results will be in line with
management expectations and remains confident in the outlook going
forward.
Nigel Le Quesne, CEO of JTC PLC, said:
"2019 was another great year for JTC as we built on the strong
revenue growth seen in the first half of the year. Both divisions
performed well, with organic growth and EBITDA margin in line with
guidance. The Group has continued to focus on client service
excellence, investment in winning new business and selective
M&A as the key strategic drivers for long-term growth. We have
also increased our focus on how we can use technology to improve
the business and are excited about the potential we see.
"Our outlook is positive and we see a global market that
demonstrates strong fundamentals for our sector and ongoing
opportunities for organic and inorganic growth in key geographies
and service lines."
The Company will announce its full year results for the year
ended 31 December 2019 on Wednesday 1 April 2020. An analyst
briefing will be given by Nigel Le Quesne, Chief Executive Officer,
and Martin Fotheringham, Chief Financial Officer, at 09:30 GMT at
the offices of Numis Securities, 10 Paternoster Square, London EC4M
7LT.
An audio-cast of the presentation will be made available on the
JTC website following the presentation. Those analysts wishing to
attend are asked to contact Camarco on +44 (0)20 3757 4999 or
jtc@camarco.co.uk
[1] Consensus analyst forecasts are available at
https://www.jtcgroup.com/investor-relations/analyst-consensus/
Enquiries:
JTC PLC +44 (0) 1534 700 000
Nigel Le Quesne, Chief Executive Officer
Martin Fotheringham, Chief Financial Officer
David Vieira, Chief Communications Officer
Camarco +44 (0)20 3757 4985
Geoffrey Pelham-Lane
Kimberley Taylor
Monique Perks
About JTC
JTC is an award-winning provider of fund, corporate and private
client services. Founded in 1987, the company employs c.750 people
across its global office network and is trusted to administer
assets of c.US$110 billion.
JTC is committed to its shared ownership culture and philosophy,
with management and staff holding over 20% of the equity in the
firm, clearly aligning the interests of clients, employees and
other stakeholders.
www.jtcgroup.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTUUONRRRUAUAR
(END) Dow Jones Newswires
January 23, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Jtc (LSE:JTC)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Jtc (LSE:JTC)
Storico
Da Apr 2023 a Apr 2024