Interim Results for the six months ended 30 June 2010

15 September 2010

STM Group PLC (AIM: STM), the cross border financial services provider, is pleased to announce its interim results for the six months ended 30 June 2010.


The full results are available to
view and download in PDF format

Financial highlights

  • Revenue for the period up 13% to £4.66 million (30 June 2009: £4.13 million)
  • Profit before tax up significantly to £0.68 million (30 June 2009: £0.18 million)
  • Interim dividend per share proposed of 0.2 pence payable on 12 November 2010 (2009: 0.2 pence)
  • Strong balance sheet with cash of £4.94 million (30 June 2009: £3.91 million)
  • EPS for period up three fold to 1.39 pence (30 June 2009: 0.44 pence)

Operational highlights

  • Core CTS business trading in line with expectations with improved profit margins
  • Integration and restructuring in STM in Jersey, following the strategic acquisition of Zenith Trust Company Limited, now largely complete, creating a “second engine room” of the Group
  • New business and marketing initiatives increased, including business wins from new territories
  • Reorganisation and cost cutting now complete but continued drive on efficiency

Commenting on summary and outlook, Colin Porter, CEO said:

“The first half of 2010 has been one of building on the momentum gained in the second half of 2009, which has resulted in an efficient and scalable platform upon which to grow further revenues and increased productivity. The Group's core business as a CTS provider remains robust and, with the strategic acquisition in Jersey completed in April 2010, is well placed to benefit from greater visibility over its results.  The reorganisation and cost cutting measures in the latter part of 2009 have borne fruit during 2010, and a focus on efficiencies will continue going forward.

“The Group has concentrated in increasing resources with regards to business and product development over the last six months and this is expected to deliver increased revenue for the second half of 2010 and beyond.

“Finally, I would like to thank Tim Revill, the founder of STM’s first acquisition, the Fidecs Group, who is to step down from the Board of STM with effect from today. Tim’s significant knowledge and expertise has been invaluable in the Group’s growth to date and we look forward to benefiting from his involvement through representing Hearth Investments Ltd, STM’s largest shareholder and the trustees of the Revill Family Settlement.”


For further information, please contact:

STMGroup Plc
Colin Porter, Chief Operating Officer Tel: +350 200 51610
Alan Kentish, Chief Financial Officer
Evolution Securities Limited Tel: +44 (0) 20 7071 4300
Jeremy Ellis / Chris Clarke
FinnCap Tel: +44 (0)20 7600 1658
Tom Jenkins/Marc Young
Media enquiries:
Henry Harrison-Topham / Mark Dixon Tel: +44 (0) 20 7398 7719
[email protected]