JTC’s profit rises, outlook remains positive

JTC PLC reported Tuesday a rise in pretax profit for the first half of 2020 and said it has performed broadly in line with management views, with is medium-term guidance remaining unchanged.

The financial-services provider posted a pretax profit for the first six months of the year of 10.4 million pounds ($13.4 million) compared with GBP9.0 million for the same period a year earlier.

The London-listed company’s earnings before interest, taxes, depreciation and amortization–one of the company’s preferred metrics–increased to GBP16.7 million from GBP15.7 million.

Revenue rose 15% to GBP53.7 million, it said. This was a reflection of a combination of 10.1% organic growth and 5.1% growth related to acquisitions, JTC said.

The board declared an interim dividend of 2.4 pence a share, up from 1.7 pence a share for the first half of 2019.

“Based on our more-than 30 years’ experience, our outlook remains positive,” Chief Executive Nigel Le Quesne said. He said the group has proved its resilience amid the coronavirus pandemic.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

Latest posts