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JTC PLC on Tuesday said it saw a ‘record’ first half of the year amid business wins, and expects to deliver its annual results in line with market expectations. The Jersey-based fund management company reported ‘record’ business wins in the six months to June 30 of £14.6 million, up 16% from £12.6 million a year prior. Underlying earnings before interest, tax, depreciation and amortisation margin in the first half of the year were at the lower range of JTC’s margin of 33% to 38%. Looking ahead, the fund manager expects to deliver its full year results ‘at least in line with market expectations.’ This includes revenue in the range of £239.1 million and £241.9 million, higher than £200.0 million in 2022, and an underlying Ebitda between £79.7 million and £80.7 million, up from £56.1 million. Shares in JTC were up 1.0% at 734.50 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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