Unaudited Interim Results for the six months ended 30 June 2021 & Investor Presentation
14 September 2021
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 2021.
The full results are available to
view and download in PDF format
|Profit before other items*||£1.5m||£1.7m||£1.8m||£1.9m|
|Profit before taxation (“PBT”)||£0.9m||£0.8m||£1.0m||£1.1m|
|Profit before other items margin||13%||15%||15%||16%|
|Earnings per share||1.28p||N/A||1.33p||N/A|
|Cash at bank (net of borrowings)||£16.5m||£17.6m|
* Profit before other items is defined as revenue less operating expenses i.e. profit before taxation, finance income and costs, depreciation, amortisation, bargain purchase gain and gain on the call options
** Underlying statistics are net of certain transactions which do not form part of the regular operations of the business as further detailed in the table below
- Recurring revenue remains predictable and a cornerstone of the business, and now represents 88% of the Group’s reported revenue
- Disinvestment of both CTS businesses allowing the Board to concentrate on growing our core activities
- Strategic focus on updating and revising operating model to drive increased “topline” growth
- Three of four IT projects now gone “live” with intention of having two core administration systems – improving operating margins
- Adapted to a “hybrid” working environment to keep our colleagues safe and maximise flexibility and efficiencies
- The Berkeley Burke acquisition of August 2020 is now fully integrated and delivering the profit that was anticipated
- Acquisitions are a core pillar of our growth strategy
Commenting on the results and prospects, Alan Kentish, Chief Executive Officer at STM, said:
“The first six months of the year have been busy with two disposals and three of the four key IT projects having gone “live”. As one would expect with our business model, the recurring revenue nature of our pensions and life assurance businesses underpins the predictability of our performance, with some 88% of total revenue meeting this classification.
“The simplification of our overall Group structure and our business lines remains a focus of the Plc board, and we are pleased to be able to state that we have now exited the Trust and Corporate Services sector, having found good homes for both the Gibraltar and Jersey clients and colleagues. The Berkeley Burke acquisition of August last year is now fully integrated and delivering the profit that was anticipated.
“There continues to be a strong appetite for further acquisitions as a key pillar for revenue and profit growth, to sit alongside the organic growth opportunities.
“We look forward to updating shareholders with our progress in the near future.”
Investor Presentation: 1.30pm on Wednesday 15 September 2021
The Directors will hold a presentation to introduce STM Group Plc to investors and cover the Interim Results and prospects at 1.30 p.m. on Wednesday 15 September 2021.
The presentation will be hosted through the digital platform Investor Meet Company. Investors can sign up to Investor Meet Company and add to meet STM Group Plc via the following link https://www.investormeetcompany.com/stm-group-plc/register-investor.
For those investors who have already registered and added to meet the Company, they will automatically be invited.
Questions can be submitted pre-event to [email protected] or in real time during the presentation via the "Ask a Question" function.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (as it forms part of retained EU law as defined in the European Union (Withdrawal) Act 2018).
For further information, please contact:
|STM Group Plc|
|Alan Kentish, Chief Executive Officer||Via Walbrook PR|
|Therese Neish, Chief Financial Officer||www.stmgroupplc.com|
|finnCap||Tel: +44 (0)20 7600 1658|
|Matt Goode / Emily Watts – Corporate Finance|
Tim Redfern / Richard Chambers – ECM
|Walbrook PR||Tel: +44 (0) 20 7933 8780|
|Tom Cooper / Paul Vann||Mob: +44 (0) 797 122 1972|
Notes to editors:
STM is a multi-jurisdictional financial services group traded 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.
Today, the Group has operations in the UK, Gibraltar, Malta and Spain. STM has developed a range of pension products for UK nationals and internationally domiciled clients and has two Gibraltar life assurance companies which provide life insurance bonds – wrappers in which a variety of investments, including investment funds, can be held.
STM’s growth strategy is focussed on both organic initiatives and strategic acquisitions.
Further information on STM Group can be found at www.stmgroupplc.com