16th Sep 2025 09:28
(Alliance News) - JTC PLC on Tuesday said it was well placed to benefit from multi-tear tailwinds amid a high level of recurring income and new business wins, as it posted an interim profit decline.
The Jersey-based professional services company said pretax profit fell 49% to GBP10.2 million in the first half of 2025, from GBP19.9 million a year prior.
Underlying earnings before interest, tax, depreciation and amortisation rose 15% to GBP56.6 million from GBP49.1 million.
Non-underlying items costs ballooned to GBP15.6 million from GBP2.7 million. The company highlighted an GBP11.8 million charge for employee incentive plan share awards in the first half of 2025 as the main reason for the fall in statutory profit.
Revenue climbed 17% to GBP172.6 million from GBP147.1 million, while staff costs increased 32% to GBP102.8 million from GBP77.8 million. Other operating costs were 28% higher at GBP28.4 million from GBP22.3 million.
JTC declared an interim dividend of 5.0 pence per share, up 16% from 4.3p a year ago.
Looking ahead, Chief Executive Officer Nigel Le Quesne said: "Driven by strong exposure to both institutional and private capital flows, we are well placed to benefit from multi-year tailwinds. We also benefit from having a limited exposure to assets under management volatility, as well as the diversification of our offering."
He added: "Strong momentum continues and we expect to deliver full-year results in line with existing management guidance and Board expectations. Our high level of recurring income, organic growth and new business wins, coupled with an increasing contribution from recent acquisitions, ensure we are well placed to continue on our growth trajectory and deliver our Cosmos era business plan ahead of schedule, before the end of 2027."
JTC shares were 0.5% higher at 1,336.00 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News slot editor
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