2020 eprivateclient Top Trust Company JTC has announced further growth in the first half of 2020 in its interim results, published yesterday (15 September 2020).
The results show that JTC, which is headquartered in Jersey and listed on the Main Market of the London Stock Exchange (LSE), grew revenue in the first six months of 2020 by 15.2 percent period-on-period to stand at £53.7m. This reflects a combination of net organic growth of 10.1 percent and growth from acquisitions of 5.1 percent.
Additionally, there is a reported increase in earnings (adjusted underlying EBITDA) of 11.2 percent to £17.9 million (up from £16.1m in the first half of 2019).
Strong performances by both the Institutional Client Services (ICS) and Private Client Services (PCS) divisions were also noted in the figures, with ICS reporting a 19.6 percent increase in gross revenue to £30.3 million and PCS a 10 percent increase to £23.4 million.
The first half of 2020 saw JTC acquire Sanne’s private client business in Jersey (completed 1 July 2020), and also technology-enabled fund administration business NES Financial (NESF) in the US (completed 29 April 2020). JTC also acquired a small bolt-on in the UK (Re...