‘Finance success can be repeated in tech’
THE Channel Islands can repeat the success of the finance industry when it comes to the technology sector, according to the chairman of telecoms company JT.
Technologist Phil Male said that that the islands’ ‘agility’ should be a huge advantage when it comes to powering the development of tech-related businesses locally.
He was recently appointed as JT chairman after joining the board as a non-executive director seven years ago.
‘Change is the constant, so if you have a business and economic environment where you can facilitate agile development then you are already onto a winner. It’s already the right place to be,’ he said.
‘It should give you an advantage. Now you have got to use it and do things with it. I can’t think of anywhere else where regulators, suppliers and customers can get in the same place at the same time.’
Mr Male added that the finance industry was the ‘ultimate virtual product’ – and the collective will that created it could be harnessed again.
‘If you could muster all of that in the same way, and bring that kind of thought process to bear again, then you should be able to repeat the same process again for technology-type based industries.’
The JT chairman said that both Jersey and Guernsey had ‘world-class’ infrastructure and that the ‘plumbing’ was good.
Millions of pounds has been spent, according to Mr Male, with JT building its business internationally and using revenue generated off-island to fund local infrastructure.
His comments come as the telecoms company published its annual review for 2017, showing an increase in turnover of 41% from £185m. to £261m. – creating an operating profit for the year of a little over £11m.
The significant increase in JT’s turnover in 2017 mainly comes from growth in its international business.
The group has signed up more than 1.6m. mobile devices around the world. This includes connecting equipment from heart monitors to payment systems, ‘smart’ traffic lights, solar farms and livestock trackers.
In the annual report, JT also said it was ‘fully committed’ to continuing to invest in Guernsey and giving customers the best deals and networks.
‘The States of Guernsey is in the process of developing a digital strategy with a vision to make the island one of the most connected places on the planet. JT is ready to play a full part in turning that vision into a reality and we’re really excited for the digital future,’ it added.
