JTC moves into profit ahead of planned GBP2.7 billion Permira takeover

(Alliance News) - JTC PLC on Tuesday reported a 25% increase in full-year revenue, and improved profitability, with growth in its two main divisions.

The Jersey-based professional services company said pretax profit amounted to GBP8.4 million in 2025, swinging from a loss of GBP7.4 million. Revenue climbed 25% to GBP381.9 million from GBP305.4 million.

The Institutional Capital Services division performed "well" considering the "current challenging market environment" with net organic growth of 9.0%.

The Private Capital Services division saw net organic growth of 7.9%, driven by "particularly strong growth" in the US and Caribbean.

Earnings before interest, tax, depreciation and amortisation improved 60% to GBP78.2 million from GBP49.1 million, and by 22% to GBP124.5 million from GBP101.7 million on an underlying basis.

Earnings per share totalled 0.56p compared to losses of 4.44p per share a year ago.

JTC's shareholders in January backed a GBP2.7 billion buyout by Papilio Bidco Ltd, indirectly owned by funds advised by Permira Advisers LLP and the Canada Pension Plan Investment Board. The deal, announced last November, values each JTC share at 1,340 pence.

Shares in JTC were up 0.1% in London at 1,305.00p each on Tuesday morning.

"This is most likely the last time that I will present a CEO review as a listed business. I would like to take this opportunity, both personally and on behalf of everyone at JTC, to say that we have enjoyed our time as a public company immensely," Chief Executive Officer Nigel Le Quesne said.

"While our overall ownership structure may be transitioning from public to private, our culture of shared ownership remains firmly at the heart of what makes JTC a special and unique business."

JTC said it aims to continue achieving strong organic growth and to make high quality acquisitions.

"We believe Permira is perfectly placed to help deliver our long-term aspirations," the firm added.

JTC declared no final dividend, as the takeover looms. Its total dividend for 2025 is 5p per share, down from 12.54p in 2024.

By Jeremy Cutler, Alliance News reporter

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