Business
Pre-close Full Year Trading Update
JTC PLC reported a resilient performance for the year ended 31 December 2025, with record new business wins exceeding 20% in both Institutional Capital Services and Private Capital Services divisions, despite macro-economic headwinds. The integration of the acquired Citi Trust business is progressing well and is on track to meet Group margin guidance by the end of 2026, while the Kleinwort Hambros Trust acquisition, completed in Q4 2025, is expected to be earnings accretive in 2026. Trading was in line with Board expectations, and the recommended cash acquisition by Permira at £13.40 per share, valuing the company at approximately £2.7 billion, received overwhelming shareholder support with completion anticipated in Q3 2026. Disclaimer*
About this update from Jtc Plc
[{"type":"text","content":"\n\n05 February 2026\n \nJTC PLC\n(the \"Company\" and together with its subsidiaries \"JTC\" or the \"Group\")\n \nPre-close Full Year Trading Update\n \nResilient new business wins and latest acquisitions integrating well\n \nJTC, the global professional services business, issues the following trading update in advance of its full-year results for the year ended 31 December 2025.\n \nThe 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.\n \nOn 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.\n \nThe 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.\n \nOverall, trading was in line with the Board's expectations.\n \nNigel Le Quesne, CEO of JTC PLC, said:\n \n\"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.\n \nThe 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.\n \nPost period end we were delighted to receive overwhelming support for the proposed acquisition of JTC by Permira, with 99.97% of votes rec...