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Prices & Quotes - UK Markets - JTC (JTC)

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Share Price:
Up 663.00p
Change Today:
3.00p
Market Cap:
882.77m
Sector:
Financial Services

JTC full-year results seen in line with guidance, consensus

By Michele Maatouk

Date: Monday 25 Jan 2021

LONDON (ShareCast) - (Sharecast News) - JTC said on Monday that full-year results are set to be in line with management guidance and consensus expectations after it continued to perform well in the second half.
In an update ahead of its results for the year to the end of December 2020, the provider of fund, corporate and private client services, said new business was strong despite the pandemic. The annualised value of new business won was up around 20% on a year-on-year basis to 17.9m, with JTC highlighting "good momentum" in the fourth quarter.

The group EBITDA margin remained stable in the second half and within guidance, it said, with the Private Client Services (PCS) division continuing to perform strongly. Planned organisational changes within the fund services practice of the Institutional Client Services (ICS) division were made, although the pace of implementation remains affected by travel restrictions.

JTC said it was "pleased" with the acquisitions made during the year, with both NESF and the Sanne private client business now fully integrated onto its global platform. Meanwhile, the acquisition of the stand-alone RBC Cees business - announced at the end of last year - remains subject to final regulatory approval, but will also represent a straightforward integration.

The company maintained its medium-term guidance metrics of 8%-10% net organic revenue growth; underlying EBITDA margin of 33%-38%; net debt of 1.5x to 2.0x underlying EBITDA and cash conversion in the range 85%-90%.

Chief executive officer Nigel Le Quesne said: "As we have seen in several instances over the last 30 years, JTC is a highly resilient business that is able to adapt and grow on a consistent basis even during periods of challenging external conditions.

"With the integration of NESF and Sanne now completed, we look forward to further developing our global footprint and service offering. We also remain focused on delivering exceptional service and making JTC a better business for our stakeholders every day. Our outlook remains positive and we see good opportunities for organic and inorganic growth in key geographies and service lines."



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JTC Market Data

Currency UK Pounds
Price 663.00p
Change Today 3.00p
52 Week High 673.00p
52 Week Low 400.00p
Volume 272,838
Shares Issued 133.15m
Market Cap 882.77m
Beta 0.00

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 7
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 07-May-2021

Time Volume / Share Price
16:42 18,188 @ 662.01p
16:42 18,188 @ 662.01p
16:35 25,648 @ 663.00p
16:32 4,494 @ 660.00p
16:29 18 @ 665.00p

JTC Key Personnel

CEO Nigel Le Quesne
CFO Martin Fotheringham