REG - JTC PLC - Pre-close Full Year Trading Update

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RNS Number : 7796R  JTC PLC  05 February 2026

05 February 2026

 

JTC PLC

(the "Company" and together with its subsidiaries "JTC" or the "Group")

 

Pre-close Full Year Trading Update

 

Resilient new business wins and latest acquisitions integrating well

 

JTC, the global professional services business, issues the following trading
update in advance of its full-year results for the year ended 31 December
2025.

 

The Group delivered a resilient performance with record new business wins.
 Growth was balanced across the Company's two divisions with both
Institutional Capital Services (ICS) and Private Capital Services (PCS)
achieving new business win growth of greater than 20%, despite ongoing
macro-economic headwinds. These challenges, particularly in ICS markets,
resulted in longer lead times, impacting short-term net organic revenue
growth, which nevertheless grew strongly.

 

On 1 July 2025, the Group completed the acquisition of Citi's global fiduciary
and trust administration services business, formerly known as Citi Trust. The
transaction cements JTC as the world's leading independent provider of global
trust services. Integration of the business is progressing well and remains on
track to deliver within Group margin guidance by the end of 2026.

 

The acquisition of the Kleinwort Hambros Trust (KHT) business completed in the
final quarter of 2025 and will be earnings accretive in 2026. KHT is highly
complementary to JTC's existing PCS offering and also brings a small,
high-quality Employer Solutions business, which now sits within the ICS
Division.

 

Overall, trading was in line with the Board's expectations.

 

Nigel Le Quesne, CEO of JTC PLC, said:

 

"We were pleased with our progress during 2025, including another record year
of new business wins, despite continued macro-economic challenges in many
markets, especially those relating to our ICS Division.

 

The Citi Trust and KHT acquisitions have strengthened our already
market-leading PCS Division and the integration of these two high-value bank
carve-out businesses is progressing well, further cementing our position as
the leading independent trust provider.

 

Post period end we were delighted to receive overwhelming support for the
proposed acquisition of JTC by Permira, with 99.97% of votes received in
favour and completion now expected in Q3 2026.

 

As we look ahead to the next exciting chapter in JTC's growth journey, I would
particularly like to express my thanks to our outstanding employee-owners, who
continue to focus on what we do best, delivering service excellence for all
our clients."

 

Offer for JTC PLC

 

On 10 November 2025, JTC announced that it had reached agreement on the terms
of a recommended cash acquisition by Papilio Bidco Limited ("Bidco") of the
entire issued and to be issued ordinary share capital of JTC at a price of
£13.40 per share, giving an enterprise value of c. £2.7bn. Following receipt
of the requisite majority of Scheme Shareholders at The Court Meeting and
General Meeting, held on 15 January 2026, the current expectation remains
that, with ongoing regulatory approvals underway, completion will be achieved
in the third quarter of 2026.

 

Notice of results

 

The Group will announce its full-year results for the year ended 31 December
2025 on Tuesday 7 April 2026. There will be no briefing presentation on the
day as the Company remains in an Offer Period.

 

 

 

For further information, contact:

 

 JTC PLC                                       +44 (0) 1534 700 000
 Nigel Le Quesne, Chief Executive Officer
 Martin Fotheringham, Chief Financial Officer
 David Vieira, Chief Communications Officer
 (ir@jtcgroup.com)

About JTC

 

JTC is a publicly listed, global professional services business with deep
expertise in fund, corporate, private client and employer solutions 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 of our stakeholders. Our
purpose is to maximise potential, and our success is built on service
excellence, long-term relationships and technology capabilities that drive
efficiency and add value.

 

www.jtcgroup.com (http://www.jtcgroup.com)

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