UK's JTC turns red after hitting record high; posts upbeat H1 results
** Shares of JTC Plc JTC.L hit record high before falling 7.8%
** The British financial services firm posts 21.1% rise in revenue, with adjusted core profit up 22.3%
** Co sees full-year results in line with management guidance, current market expectations
** "Limited progression in EBITDA margin reflects ongoing business investments and impact of recent deals, with Citi Trust acquisition, while attractive in terms of RoIC, expected to weigh on EBITDA margin through FY25 and FY26," Shore Capital Stockbrokers analyst Vivek Raja says
** "During the results call, the outlook was more cautious than the initial statement suggested, likely due to delays in deal completion and onboarding of new business, which JTC attributes mainly to regulatory challenges," he adds
** Shares hit record high of 1,148p, now down at 1,022p
** Stock has risen 29% so far this year
Reporting by Prerna Bedi and DhanushVignesh Babu in Bengaluru
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