- JTC reported that first-half profit rose 14.7% thanks to 'good momentum' across its private and institutional client services businesses.

For the six months ended 30 June 2020, pre-tax profit rose 14.7% to £10.4m on-year as revenue increased 15.2% to £53.7m.

Revenue in its private and institutional client services businesses increased by 10% and 20% respectively.

The performance was broadly in line with the board's expectations, the company said.

'Although overall margin at group level was at the lower end of our expectations, a particular area of focus going forward will be on the implementation of the revised operating model of our fund services business within the ICS division,' the company said.

At 9:24am: [LON:JTC] JTC PLC share price was +16.5p at 466.5p

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