Jersey-based international trust and fiduciary firm JTC grew its revenue by 32% to £46.6m in the first six months of 2019 compared to the same period last year.
JTC reported an increase in earnings of 35.2% to £14.3m and in its underlying profit margin to 30.6%, up from 29.9% during the same period in 2018.
The results reflect a combination of net organic growth of 8.2% and growth from acquisitions of 23.8%.
The group is trading in line with expectations and we are confident that this momentum will be carried into the second half of the year.”
JTC, which is listed on the London Stock Exchange, highlighted the strong performance by its Institutional Client Services and Private Client Services divisions. Institutional Client Services reported a 27.6% increase in gross revenue to £25.4m and Private Client Services saw a 37.7% increase to £21.2m.
Nigel Le Quesne, CEO, commented: "We saw good growth in revenue and our underlying earnings compared to the same period last year. Pleasingly, both our institutional and private client services divisions have performed well as we continue to take a balanced approach to servicing the market, whilst the integration of the businesses acquired is progressing as planned."
"Overall, the group is trading in line with expectations and we are confident that this momentum will be carried into the second half of the year."
JTC has offices in Jersey and Europe and also the Cayman Islands, BVI, Miami, New York, Dubai and Singapore.