Fund administration service provider JTC Plc (JTCPF) Tuesday reported loss for full-year 2024, in contrast to a profit last year. The company's results were impacted by higher operating expenses, staff expenses and finance costs.
The company raised its full-year dividend from last year. JTC also reiterated its medium-term guidance for the year ahead.
The company posted pre-tax loss of 7.40 million pounds in fiscal 2024, compared to pre-tax profit of 24.31 million pounds a year ago. On underlying basis, pre-tax profit rose 17 percent to 47.4 million pounds from 40.5 million pounds in fiscal 2023.
Loss for the year came in at 7.26 million pounds or 4.38 pence per share, compared to profit of 21.82 million or 14.07 pence per share recorded last year.
The company's annual revenues climbed 18.6 percent to 305.4 million pounds from 257.4 million pounds in the previous year.
EBITDA for the year dropped 37 percent to 49.1 million pounds from 77.8 million pounds a year ago. On an underlying basis, however, EBITDA was 18.4 percent higher at 101.7 million pounds, from 85.9 million pounds in the prior-year.
The company's staff expenses were -196.62 million pounds, wider than last year's -131.92 million pounds. Other operating expenses widended to -57.55 million pounds from -44.86 million pounds in fiscal 2023.
The company plans to propose a final dividend of 8.24 pence per share, resulting in a full year dividend of 12.54 pence per share, which is 12.3 percent higher than last year's dividend of 11.17 pence.
The final dividend will be paid on June 27 to shareholders on the register of members as at the close of business on May 31, subject to shareholder's approval at the AGM.
Looking ahead, JTC Plc maintained its medium-term outlook of a net organic revenue growth of over 10 percent per annum and an underlying EBITDA margin expected in the 33 percent to 38 percent range.
The company also said that it was on track to deliver its Cosmos era strategic objective to double the size of the business again from fiscal 2023 by fiscal 2027.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.