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INVESTOR RELATIONS

Latest Results

Final Results for the 12 months ended 31 December 2018

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STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased to announce its audited Final Results for the 12 months ended 31 December 2018.

Financial Highlights:

  • Revenue for the period £21.4 million (2017: £21.5 million)
    • Underlying* revenue for the period of £20.5 million (2017: £20.2 million)
  • Profit before tax for the period of £4.0 million (2017: £4.0 million).
    • Underlying* Profit before tax for the period of £3.7 million (2017: £3.2 million)
  • Underlying profit margins increased to 18% (2017: 16%)
  • Recurring revenue** for 2018 of £16.3 million representing 76% of total revenue (2017: 75%)
  • Final dividend of 1.3 pence per ordinary share recommended (2017: 1.2 pence)
  • Strong balance sheet with net cash and cash equivalents of £15.6 million (31 December 2017: £15.1 million)

* Underlying statistics are net of certain transactions which do not form part of the regular operations of the business
** defined as annual management charges and contractual fixed fee agreements

Operational Highlights:

  • Continued strengthening of our governance platform and risk management framework
  • Strong board composition – new members – chairman, non-executive director and COO
  • Proven bolt-on acquisition strategy with completion of Harbour and fully integrated within 6 months 
  • Carey Pensions acquisition - stronger focus on the UK market
  • Access to more products
  • Entry into the ever-growing UK workplace pensions solution market
  • Consolidation opportunity now possible for workplace pensions
  • Continued investment in technology with vision of one Group wide administration platform

 

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

“We are pleased with another solid profitable year at STM, which has been coupled with significant operational progress within the Group.  Our management, governance and risk structures have been strengthened to ensure that we are well placed to integrate our recent acquisitions, meet our industry compliance needs and can rely on a robust infrastructure to support future growth.

“Our markets continue to evolve and present opportunities for well funded operators.  STM intends to be at the forefront of product development and sector consolidation and has a refined short-term strategy to maximise this opportunity.”

 

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

 

Page last up-dated: 26 March 2019

 

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