25th Jul 2023 09:27
(Alliance News) - 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 GBP14.6 million, up 16% from GBP12.6 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 GBP239.1 million and GBP241.9 million, higher than GBP200.0 million in 2022, and an underlying Ebitda between GBP79.7 million and GBP80.7 million, up from GBP56.1 million.
Shares in JTC were up 1.0% at 734.50 pence each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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