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JTC PLC on Wednesday said it reached a record level of new business wins in 2024, as it expects to post annual results in line with market growth forecasts. The Jersey-based professional services company said it expects to deliver full-year results in line with market expectations, citing a company-compiled consensus of £311.1 million in revenue and £105.5 million in underlying earnings before interest, tax, depreciation and amortisation. This would be a 19% growth in revenue from £257.4 million last year, and a 20% rise in underlying Ebitda from £85.9 million, after allowing for the impact of completing its FFP acquisiton ‘later than expected’, and foreign exchange headwinds. JTC also celebrated a ‘record year’ for new business wins, which grew to £35.7 million from £30.8 million the year before, driven primarily by trading in the US. The firm’s full-year underlying Ebitda margin is expected within the 33% to 38% guidance range, which it said ‘reflects the group’s continued investment in organic growth’. JTC is due to release its 2024 results on April 8. Chief Executive Officer Nigel Le Quesne said: ‘The group made a fast start to the Cosmos era in 2024, with our people energised by the success and momentum of the excellent results achieved in 2023. Having raised our guidance for organic growth for this era we have delivered on this key metric, which is a strong result in light of a weaker fundraising environment. JTC’s Cosmos plan aims to double the revenue of £257.4 million and underlying Ebitda of 85.9 million reported in 2023, within a four-year time frame. CEO Le Quesne continued: ’The record performance in new business wins, particularly from the US, helps underscore our confidence in continuing to deliver against the increased organic growth target. Our ability to source high quality acquisitions was again demonstrated, with six deals being completed or announced, including the transformational acquisition of Citi Trust which, upon completion, will cement our position as the largest independent provider of private trust services in the high-growth US market.‘ ‘We continue to invest in our global platform to support and capture long-term growth, expanding our service offering and jurisdictional footprint both organically and inorganically. As owners of the business, we all remain extremely ambitious for the group’s long-term success and are confident that we are well on track with our Cosmos era goal to double the size of JTC for the third time since [initial public offering].’ Shares in JTC were down 0.2% at 967.00 pence in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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