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JTC delivers record new business wins in 2022

By Iain Gilbert

Date: Thursday 02 Feb 2023

JTC delivers record new business wins in 2022

(Sharecast News) - Professional services business JTC said on Thursday that it had delivered "strong organic growth" in the year ended 31 December, with record new business wins providing it with "good momentum" into 2023.
JTC said 2022 was "a successful year" for the company, which saw it deliver double-digit net organic revenue growth above its medium-term guidance range of 8-10%, driven by record new business wins of £24.6m - up roughly 17.7% year-on-year.

The FTSE 250-listed group stated underlying earnings will be at the top end of the range of market expectations, while its EBITDA margin will be, as expected, at the lower end of medium-term guidance of 33-38%.

Cash conversion was also said to be at the top of guidance of 85-90% and, following its acquisition of NYPTC, leverage was said to have remained at the lower end of 1.5-2.0x reported underlying EBITDA.

Chief executive Nigel Le Quesne said: "Looking ahead, we are particularly focused on developing our US footprint across both Divisions, maintaining organic growth momentum in the core business and continuing to secure the right acquisition opportunities in a fragmented and consolidating market."

As of 0945 GMT, JTC shares were up 3.46% at 747.0p.





Reporting by Iain Gilbert at Sharecast.com



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