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Prices & Quotes - UK Markets - JTC (JTC)

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Share Price:
Down 626.00p
Change Today:
-9.00p
Market Cap:
834.61m
Sector:
Financial Services

JTC pleased with 2019 as it hunts for acquisitions

By Josh White

Date: Thursday 23 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Fund, corporate and private client services provider JTC updated the market on its trading for 2019 on Thursday, saying it continued to perform well in the second half of the year.
The London-listed firm said full-year revenue was within the range of analyst expectations, with organic growth within the 8% to 10% company guidance.

Adjusted EBITDA was also in line with consensus expectations, with a further year-on-year improvement in its EBITDA margin.

The first said performance in the Private Client Services (PCS) division was "particularly strong", and consistent with its status as the 2019 'STEP Large Trust Company of the Year'.

New business performance showed good momentum, the board said, with the group winning new business with an annualised value of 14.9m in the year ended 31 December, up from 9.7m in 2018.

Exequtive Partners - the Luxembourg-based corporate services provider acquired in March - had integrated well, with the board saying it had broadened the group's capabilities in a key Institutional Client Services (ICS) division jurisdiction.

The company said it was still seeing a number of "interesting" merger and acquisition opportunities that fit with its "disciplined approach" to inorganic growth and balance sheet management.

In light of those, JTC said it had increased its banking facilities by an additional 50m, taking its total credit facility to 150m.

The board said it was expecting that full-year results would be in line with management expectations, adding that it remained confident in its outlook going forward.

"2019 was another great year for JTC as we built on the strong revenue growth seen in the first half of the year," said chief executive officer Nigel Le Quesne.

"Both divisions performed well, with organic growth and EBITDA margin in line with guidance."

Le Quesne said the group had continued to focus on client service excellence, investment in winning new business and selective mergers and acquisitions 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."

At 0914 GMT, shares in JTC were down 2.47% at 414.5p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

JTC Market Data

Currency UK Pounds
Price 626.00p
Change Today -9.00p
52 Week High 673.00p
52 Week Low 444.00p
Volume 700,437
Shares Issued 133.32m
Market Cap 834.61m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 8
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JTC Dividends

  Latest Previous
  Final Interim
Ex-Div 10-Jun-21 24-Sep-20
Paid 02-Jul-21 23-Oct-20
Amount 4.35p 2.40p

Trades for 18-Jun-2021

Time Volume / Share Price
16:51 116,157 @ 625.87p
16:57 1,770 @ 626.00p
16:46 11,277 @ 626.00p
16:46 1,770 @ 626.00p
16:38 50,000 @ 628.34p

JTC Key Personnel

CEO Nigel Le Quesne
CFO Martin Fotheringham