JTC Group Reports 15% Revenue Increase in 2020 Earnings

Strong earnings represent continued growth amid the pandemic, including the acquisition of Silicon Valley-based NES Financial

SAN JOSE, Calif.--(BUSINESS WIRE)--JTC Group, an award-winning provider of fund, corporate and private client services to institutional and private clients, announced its 2020 full year results. The London Stock Exchange listed public company reported a 15.9% increase in total revenue to £115.1 million and a 9.4% rise in underlying EBITDA to £38.7 million, with an underlying EBITDA margin of 33.6%.

The rise in revenue was achieved from a combination of net organic growth and growth from acquisitions, of 7.9% and 8.0% respectively. One such acquisition was NES Financial, which is now known as NES Financial | JTC, and a leader in specialty financial administration based in Silicon Valley.

“NES Financial | JTC is the embodiment of JTC’s expanding global reach, experienced management, and cutting-edge in-house technology capabilities,” said Michael Halloran, Group Holdings board member, head of Technology & Strategy, and CEO of NES Financial | JTC. “As NES Financial | JTC continues to build upon its impressive footing in the high-growth US funds services market and ESG-related services, we expect to contribute to JTC Group’s strong results for years to come.”

The results were in line with JTC’s medium term market guidance of 8% – 10% net organic revenue growth and a 33% – 38% underlying EBITDA margin, which management considers represent appropriate indicators of sustainable high performance in the company’s sector. What’s more, the performance was strong across both divisions of the Group: Institutional Client Services reported revenue up 17.8% and Private Client Services reported revenue up 13.7%.

JTC’s new business wins increased by 20.1% and its new business pipeline was up by 49.7%, supporting a positive outlook for 2021. The total dividend per share for 2020 is 6.75 pence, an increase of 27.4% compared with the previous year.

In the United States, NES Financial | JTC continued to build upon its leadership in fund administration, impact reporting, and ESG services for private equity funds and award-winning purpose-built technology for the fund community. The global strength and footprint of JTC further provides US clientele with a broad suite of enhanced capabilities and services to institutional, corporate, and private clients.

“We are particularly pleased with our results for 2020 as they have been achieved despite the challenges of the global pandemic,” said Nigel Le Quesne, CEO of JTC. “NES Financial | JTC, our platform for growth in the US fund services market, has progressed at pace and played a significant role in our global expansion efforts. Based on our 33-year track record, our scale, our diversification, our infrastructure and our people, we believe that JTC is well equipped to continue to succeed and grow both now and in the future.”

For more information about NES Financial | JTC, please visit nesfinancial.com.

About JTC Group

JTC Group is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.

JTC PLC fund services administer a wide variety of listed and unlisted funds across a diverse range of asset classes, including real estate, private equity, renewables, hedge, debt and other alternatives. The firm’s corporate services provide company secretarial and administration services to a broad range of clients, including SMEs, public companies, multinationals and sovereign wealth funds. JTC PLC’s private wealth services include the formation and administration of vehicles such as trusts, companies and partnerships on behalf of predominantly HNWIs and UHNWIs and their families and dedicated private and family offices.