03 March 2009
STM Group PLC (AIM:STM), the cross border financial services provider, announces its preliminary results for the year ended 31 December 2008.
The full results are available to
- Revenue of £9.19 million (2007: £5.29 million*)
- Like for like organic revenue growth of 12%
- Profit before tax of £2.84 million (2007: £1.78 million*)
- EPS of 6.48 pence (2007: 5.29 pence*)
- Raised £2.8 million (gross) through the issue of 4.7 million new ordinary shares at 60 pence in March 2008
- As part of ongoing acquisition strategy, successfully acquired and integrated:
- St George Financial Services Limited, Jersey (renamed STM Fiduciaire Ltd)
- Portfolio of 200 Gibraltar companies from Jordans (Gibraltar) Limited
- Portfolio of 604 BUPA clients, resident in Spain
- Obtained financial services licences for:
- STM Nummos Life SL as insurance intermediary in Spain
- STM Life Assurance PCC Plc, Gibraltar, to write Class III, linked long term life business (insurance wrappers)
- Company management licence granted in BVI, subject to (standard) conditions
- STM Swiss AG office opened in Zurich for Ultra High Net Worth Individual clients
*11 months to 31 December 2007
Commenting on the results, Tim Revill, Chief Executive Officer, said: “2008 has obviously been a challenging year for everyone, but STM’s robust business model has, again, enabled the Group to meet market expectations. At the same time, STM has continued its acquisition and integration strategy and has extended the range of its services. The Group has implemented operational improvements which provide further capacity and scalability within the business. This coupled with the clear market opportunities mean that the Group remains confident about its prospects for 2009.
For further information, please contact:
|Tim Revill, Chief Executive Officer||Tel: 00 350 200 51610|
|Evolution Securities Limited|
|Jeremy Ellis / Chris Clarke||Tel: +44 (0) 20 7071 4300|
|Henry Harrison-Topham||Tel: +44 (0) 20 7398 7702|
Notes to editors:
STM is a multi-jurisdictional financial services group listed on the Alternative Investment Market of the London Stock Exchange. The Group specialises in the delivery of a wide range of financial service products to professional intermediaries and in the administration of assets for international clients in relation to retirement, estate and succession planning, and wealth structuring.
Today, STM has trading operations in Gibraltar, Malta, Jersey, and Spain. It has also recently opened satellite offices in South East Asia, the Middle East, and South Africa. The Group continues to expand through the development of additional products and services that its ever-more sophisticated clients demand.
STM has, for example, a dedicated international pensions division which specialises in Qualifying Recognised Overseas Pension Schemes (QROPS) and Qualifying Non-UK Pension Schemes (QNUPS); it also has a Gibraltar Life Insurance Company, STM Life Assurance PCC PLC, which provides life insurance bonds - wrappers in which a variety of investments, including investment funds, can be held.
Further information on STM Group can be found at www.stmgroupplc.com