JTC (JTC) chief operating officer Wendy Holley has sold £1.1m shares in the run-up to the financial services outfit’s release of its half-year results. Ms Holley made the disposals in order to fund the purchase of a property, the company confirmed. JTC publishes its results on 15 September.
JTC, which administers offshore funds and trusts for wealthy individuals, families and institutions, made two acquisitions over the first half of its financial year. It bought fund administrator Sanne Group’s private client business in March and North American administrator NES Financial in April. Last month, chief executive Nigel Le Quesne admitted that the coronavirus pandemic and a “'virtual-only' environment” had made it harder to integrate the two businesses.
JTC anticipates medium-term net organic revenue growth of 8 to 10 per cent, and expects to retain its high margins, with an underlying cash profits margin of 33 to 38 per cent. New business inflows stood at £6.4m over JTC’s first half, up 8 per cent on the same period last year.
Analysts at Berenberg forecast full-year 2020 adjusted pre-tax profits of of £24m and earnings per share of 23.6p, rising to £31m and 28.1p in 2021.
| Buys | ||||||
| Company | Director/PDMR | Date | No. of shares | Price (p) | Aggregate value (£) | Comments |
| RHI Magnesita | Karl Sevelda | 5 Aug 20 | 1,000 | 2,556 | 25,560 | |
| Ultra Electronics | Kenneth Hunzeker | 5 Aug 20 | 2,000 | 2,470 | 49,397 | Converted from US$, residual interest 0.003% |
| Volex | John Molloy (coo) | 6 Aug 20 | 50,000 | 145 | 72,500 | Purchased by PCA, residual interest 0.86% |
| McColl's Retail Group | Giles David (cfo) | 6 Aug 20 | 125,000 | 37.5 | 46,875 | |
| Purplebricks | Simon Downing | 6 Aug 20 | 500,000 | 57.5 | 287,500 | |
| Watkin Jones | Elizabeth Reilly | 6 Aug 20 | 20,000 | 137.69 | 27,538 | |
| ULS Technology | Oliver Scott | 7 Aug 20 | 43,698 | 62.5 | 27,313 | Purchased by Kestrel Partners |
| DWF | Jonathan Bloomer (ch) | 7 Aug 20 | 40,000 | 65.54 | 26,216 | |
| Vitec | Duncan Penny | 7 Aug 20 | 2,000 | 654.5 | 13,090 | |
| Vitec | Stephen Bird (ceo) | 7 Aug 20 | 10,000 | 654 | 65,400 | |
| Vitec | Ian McHoul (ch) | 10 Aug 20 | 5,000 | 683.34 | 34,167 | |
| Metro Bank | Ian Henderson | 10 Aug 20 | 15,000 | 104.3 | 15,645 | |
| Pantheon International | Mary Sieghart | 10 Aug 20 | 1,400 | 2,140 | 29,960 | |
| ULS Technology | Oliver Scott | 10-11 Aug 20 | 35,004 | 62.23 | 21,783 | Average price. Purchased by Kestrel Partners which has interest of 27.84% |
| Sells | ||||||
| Company | Director/PDMR | Date | No. of shares | Price (p) | Aggregate value (£) | Comments |
| Rentokil | John Myers | 7 Aug 20 | 225,000 | 538.72 | 1,212,123 | |
| JTC | Wendy Holley | 7 Aug 20 | 118,974 | 490.77 | 583,890 | Average price |
| AJ Bell | Charles Galbraith | 7 Aug 20 | 250,000 | 435.43 | 1,088,575 | |
| Petropavlovsk | Alya Samokhvalova (ceo) | 7 Aug 20 | 463,182 | 34.32 | 158,964 | |
| Unilever | Graeme Pitkethly | 10 Aug 20 | 1,240 | 4,539 | 56,285 | Sold by PCA |
| Ceres Power | Stephen Callaghan | 10 Aug 20 | 200,000 | 507.95 | 1,015,900 | |
| JTC | Wendy Holley | 12 Aug 20 | 110,165 | 489.02 | 538,729 | Average price |
