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Unaudited Interim Results for the six months ended 30 June 2018

11 September 2018

STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased to announce its unaudited interim results for the six months ended 30 June 2018.

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Highlights include:

2018 2017
Normalised
Change 2017
Actual
Revenue £10.8m £10.2m* +6% £10.7m
Earnings before interest, taxation, depreciation and amortisation ("EBITDA") £2.5m £2.4m* +5% £2.9m
Profit before taxation ("PBT") £2.1m £1.9m* +11% £2.4m
PBT margin 20% 19% +5% 22%
Earnings per share 3.21p 3.10p* +4% 3.89p
Cash at bank (net of borrowings) £16.3m £11.4m +43% £11.4m
Interim dividend 0.7p 0.6p +17% 0.6p

 

* stated excluding impact of £0.5m release of L&C technical expense reserve

Operational highlights:

  • Recurring revenue for the period of £8.5 million (2017: £8.0 million)
  • Increased PBT margin as a result of efficiencies, notwithstanding one-off costs incurred
  • Relocation of Plc head-office gives a more UK centric focus
  • New Chairman and NED appointments post period end bring further depth and experience
  • Successful integration of the Harbour acquisition
  • STM Life to re-domicile to Malta following Group review of Brexit implications
  • Gibraltar regulated entities working proactively to implement the Skilled Person Review recommendations
  • Increased dividend, in line with progressive dividend policy
  • Consistent deferred income shows visibility of revenue stream

Commenting on the results and prospects for STM, Alan Kentish, Chief Executive Officer, said:

"The various trading divisions across the Group have collectively performed in line with management expectations during the first half of the year, and have delivered a solid set of underlying financial results. This performance gives the Board confidence in meeting management expectations for the full year.

"The successful integration of Harbour demonstrates the model for future acquisitions as and when further opportunities arise.

"The Board continues to implement its three year de-risking strategy by looking to introduce more financial services products for both the expatriate market, as well as the UK market, across the pension and life sectors. In addition, we continue to challenge our processes and systems as part of a programme to increase our profit margins.

"We look forward to updating the market with further news as the year progresses."

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

For further information, please contact:

STM Group Plc
Alan Kentish, Chief Executive Officer Via Walbrook PR
www.stmgroupplc.com
Therese Neish, Chief Financial Officer
FinnCap Tel: +44 (0)20 7600 1658
Matt Goode / Emily Watts - Corporate Finance www.finncap.com
Tim Redfern / Richard Chambers - Corporate Broking
Walbrook Tel: +44 (0) 20 7933 8780
Tom Cooper / Paul Vann Mob: +44 (0) 797 122 1972
[email protected]

 

Notes to editors:

STM is a multi jurisdictional financial services group which is listed on the AIM Market of the London Stock Exchange. The Group specialises in the delivery of a wide range of financial service products to professional intermediaries and the administration of assets for international clients in relation to retirement, estate and succession planning and wealth structuring.

Today, STM has operations in the UK, Gibraltar, Malta, Jersey and Spain. The Group is looking to expand through the development of additional products and services that its ever more sophisticated clients demand. STM has developed a specialist international pensions division which specialises in Self-Invested Personal Pensions (SIPPs) for expatriates, Qualifying Recognised Overseas Pension Schemes (QROPS), Qualifying Non UK Pension Schemes (QNUPS). STM has a Gibraltar Life Insurance Company, STM Life 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

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

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

SPAIN

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

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UK

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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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