INVESTOR RELATIONS

Corporate News

Preliminary Results

09 March 2010

09 March 2010

STM Group PLC (AIM:STM), the cross border financial services provider, announces its preliminary results for the year ended 31 December 2009.

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Year end highlights

Financial

  • Revenue of £8.5 million (2008: £9.2 million)
  • Profit before tax of £0.7 million (2008: £2.8 million)
  • EPS of 1.57 pence (2008: 6.48 pence)
  • Strong balance sheet with cash of £3.8 million at year end – Cash generated from operating activities £0.9 million
  • Final dividend of 0.4 pence, payable on 4 June 2010, representing a total dividend for 2009 of 0.6 pence

Operational

  • Trading revenues (excluding treasury management fees) maintained year on year despite difficult economic conditions
  • Organic growth of 7% in Gibraltar CTS division
  • Acquired CTS business in Luxembourg to add further cross-border capabilities to the Group, subject to regulatory approval New products launched, including International Life bond and EFRBS
  • Set up STM Swiss in Zurich, now gaining traction

Board

Tim Revill, founder of STM's first acquisition, Fidecs Group Limited, has today announced that he will be stepping down from his current role as Chief Executive Officer but will remain on the board as Deputy Chairman.  Colin Porter, currently Chief Operations Officer will take up the role of Chief Executive Officer with immediate effect.

Commenting on the results, Tim Revill, Deputy Chairman, said:  "The early part of 2009 saw the economies of the world and the global banking system at their most depressed and unstable level in living memory.  Most entrepreneurs deferred decisions, whilst they waited to see the outcome.  STM's business is to provide financial advice and appropriate administrative structures for investors and entrepreneurs making cross-border commitments.  The lower level of client activity, the slower take-up of our new financial products and consequently the Group's revenue in 2009 did not reach our expectations at the beginning of the year.

"However, our business has now stabilised and we see that confidence and financial activity is gradually returning to near normal levels.  This, together with STM's wider international presence and the Group's new products, gives the Board confidence that 2010 should show considerable improvement in our results."

 

 

For further information, please contact:

STMGroup Plc
Colin Porter, Chief Executive Officer Tel: 00 350 200 42686
www.stmgroupplc.com
Evolution Securities Limited Tel: +44 (0) 20 7071 4300
Jeremy Ellis / Chris Clarke www.evosecurities.com
FinnCap Tel: +44 (0)20 7600 1658
Tom Jenkins / Marc Young www.finncap.com
Media enquiries:
Abchurch
Henry Harrison-Topham / Mark Dixon Tel: +44 (0) 20 7398 7702
[email protected] www.abchurch-group.com

UNITED KINGDOM

Options UK 
(part of STM Group Plc)
1st Floor Lakeside House
Shirwell Crescent
Furzton Lake
Milton Keynes
Buckinghamshire
MK4 1GA

UNITED KINGDOM

London & Colonial Services Limited
(part of STM Group Plc)
1st floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP
UK

GIBRALTAR

PO Box 575
Montagu Pavilion
8-10 Queensway
Gibraltar
GX11 1AA

MALTA

San Gwakkin Building
Level 1
Triq is-Salib tal-Imriehel
Zone 4
Central Business District
Birkirkara, CBD4020
Malta

SPAIN

Edif. Sotovila
Plaza Mayor
P.N. de Guadiaro
Sotogrande
Cadiz
11311
Spain

HEAD OFFICE

Suite 315
5 Chancery Lane
London,EC4A 1BL
UK

REGISTERED OFFICE

1st Floor,
Viking House,
St Paul’s Square, Ramsey,
Isle of Man,
IM8 1GB.

STM is a multi-jurisdictional financial services group listed on AIM, a market operated by the London Stock Exchange.
The Group specialises in the administration of client assets in relation to retirement, estate and succession planning and wealth structuring.

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STM Group companies are regulated where required in their host jurisdictions.

STM in the UK (London & Colonial and Options UK): Financial Conduct Authority - STM in Gibraltar: Gibraltar Financial Services Commission - STM in Malta: Malta Financial Services Authority - STM in Spain: Director General de Seguros, Fondos y Pensiones: STM Nummos, SL figura inscrita en el Registro Mercantil de Cádiz, Tomo 1612, Hoja 6697, Libro 0, Folio 14. CIF B-11301199.

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