JT reports strong growth in 2013

| July 1, 2014 | 0 Comments

The turnover of the JT Group increased to a new record high level of more than £151m in 2013, a significant increase of 26% on the previous year’s figure.

The figures are contained in the Group’s Annual Report, which is released this morning. The report shows as well as significantly growing its turnover, JT also returned a healthy dividend to its shareholder, the States of Jersey, of £3.2m in 2013.

EBITDA for 2013 was £33.7m, which is an increase of 12.4% on 2012, on a like for like basis.

The Annual Report also confirms JT is on track to deliver its flagship project, Gigabit Jersey, which will see all broadband customers switched over to fibre-optic broadband by the end of 2016.

Group Chairman, John Stares commented: “Our financial results for 2013 show that even despite the recession, with some recent signs of recovery, JT has been able to perform exceptionally well. We have continued to implement our strategic growth plan in 2013 successfully, both in the Channel Islands and beyond, with more than half of Group revenues now coming from our interests abroad. I would like to thank all of the JT team for their hard work in achieving that continued growth, which brings much-needed new investment back into the Channel Islands, and ensures JT continues to be a valuable strategic asset for the States of Jersey”.

2013 Headlines:

  • Gigabit Jersey is the biggest civil engineering project ever undertaken by JT. By the end of the year, 14% of customer premises were on the fibre network, which is double the proportion from 2012, and put Jersey 12th in the world in terms of the scale of its fibre-to-the-home network, which enables broadband speeds of more than 1GB/s (1024MB). To date, 33% of JT broadband customers are now enjoying a fibre service.
  • The success of the Gigabit project meant that JT won the prestigious ‘Operator Award’ at the 2013 Fibre-To-The-Home (FTTH) Council Europe Awards.
  • In 2013, JT executed the most significant change in a generation in the way it relates to its customers. The previous customer billing system was nearing the end of its operational life, so change was urgently needed.
  • Bringing in the new system affected almost all of JT’s customers, and involved thousands of hours of training and preparation. Despite that work, given an operational change of this magnitude, there were difficult issues to overcome. But by the end of the year, the new system was in place and well on the way to delivering the significant customer benefits, and flexibility, which were envisaged.
  • JT’s Enterprise business performed very well in 2013, with some major global customers moving into its CI Data Centres. JT is now in the advanced stages of planning further expansion to those centres to make sure the Group can continue to accommodate the strong demand from across the world.
  • JT’s ‘machine-to-machine’ (M2M) business continued to grow strongly, both in volume and in terms of the scale of contracts secured. During 2013 JT launched a SIM management platform that can be white-labelled and this has since been taken up by operators in the UK, Europe and Africa.
  • JT staff raised almost £30,000 to support Autism Jersey in 2013, taking the Group to within a fraction of the three-year £50,000 fund-raising target, a full 12 months early. By the end of the year, the total raised stood at £49,000 to support young people and adults on the Autistic spectrum, including people with Asperger Syndrome.

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Category: Finance & Business

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