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INVESTOR RELATIONS

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Unaudited Interim Results for the six months ended 30 June 2018

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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.

Chairman's Statement

I am pleased to present the Group's financial results for the six month period ended 30 June 2018 which show a solid performance, after allowing for the financial impact and management resources utilised in the Skilled Persons Review of the Gibraltar businesses.

2018 to date has shown growth in our International SIPP numbers, with new applications remaining steady on a month on month basis.

In addition, the completion of the Harbour acquisition in February 2018, has demonstrated the potential scalability and profitability of these smaller acquisitions for the Group. We will continue to pursue other such targets as and when suitable opportunities arise.

The Board will continue its strategy of de-risking the business by looking to add to its product range within both the pension and life operations, with a view to becoming less reliant on purely the expatriate market.

The above opportunities, coupled with our underlying predictable recurring revenue stream, mean that we remain confident of the Group continuing to deliver increased profitability. In addition, we are pleased to have a new Chairman and an additional Non-Executive Director appointed to the Board in recent weeks, both have extensive experience in the UK and EU financial services markets in terms of product as well as the customer journey.

As outgoing interim Chairman, as we enter the latter part of 2018, it feels that we are moving the Group to a new level of robustness and governance, not only for the shareholders but for all stakeholders concerned.

I would like to take this opportunity to thank the staff for their hard work in the first half of this year, and wish Duncan Crocker every success as the new Chairman.

 

Robin Ellison

Interim Chairman

 

Page last up-dated: 11 September 2018

 

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