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Investegate |STM Group PLC Announcements | STM Group PLC: Investor Presentation

Investegate announcements from STM Group PLC, Investor Presentation ....

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STM nudges dividend lower as profit falls | 11 May 2021

11 May 2021 | 08:43am
StockMarketWire.com - Cross-border financial services group STM booked a lower annual profit, partly owing to it recording a one-off bargain purchase gain in the previous year.
Pre-tax profit for the year through December decreased to £2.0 million, down from £3.9 million year-on-year.
Revenue increased to £24.0 million, from £23.3 million, though underlying pre-tax profit before the bargain purchase gain fell to £2.4 million, down from £2.6 million.
STM declared a full-year dividend of 1.4p per share, down from 1.5p year-on-year.
Whilst the year has had challenges, we have achieved a great deal in progressing our three-year transformation and growth strategy, chief executive Alan Kentish said. ....

Alan Kentish , ஆலன் கெஂடிஶ் ,

STM expects £3.6m hit from Carey compensation

But firm says acquisition pipeline is ‘active’ and will be ‘pillar for future growth’
Cross-border financial services provider STM Group has set aside £3.6m ($5m, €4.1m) for potential claims following the outcome of the Adams v Carey Pensions case.
In its annual report for the year ending 31 December 2020, the firm said there could be a group of claims featuring similar characteristics to the one Adams brought before the UK courts.
STM estimates that the value of these claims will be around £3.6m, which will be fully covered by its professional indemnity insurance (PII).
PI insurance
STM said in the annual report: “The group recognises that the UK Sipp industry is becoming more litigious over non-performing assets. Whilst the group does not provide financial or investment advice to its customers, and therefore believes it is not responsible for the performance of the investments, the group occasionally receives complaints in respect to these matte ....

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ROPS add over £10m of revenue, £3.6m Carey compensation estimate, STM reports

ROPS add over £10m of revenue, £3.6m Carey compensation estimate, STM reports
STM Group today reported modest growth on the back of an unprecedent year in terms of the global pandemic with revenues of £24m (2019: £23.3m) in the year to 31 December 2020 and profit before other items of £3.6m (2019: £3.5m).
It highlighted how its pension administration businesses continued to be the life-blood of our group, and the corner stone to our profitability , while it also gave an estimate on potential claims following the appeal decision in the high profile Carey v Adams case.
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Administration of its ROPS products, carried out in Malta and Gibraltar and split 75% and 25% respectively, continued to be its largest revenue generator accounting for £10.1m (2019: £10.1m). ....

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Investegate | Company News | Corporate, London Stock Exchange, Regulatory News Headlines STM nudges dividend lower as profit falls

By BFN News | 08:43 AM | Tuesday 11 May, 2021
Cross-border financial services group STM booked a lower annual profit, partly owing to it recording a one-off bargain purchase gain in the previous year.
Pre-tax profit for the year through December decreased to £2.0 million, down from £3.9 million year-on-year.
Revenue increased to £24.0 million, from £23.3 million, though underlying pre-tax profit before the bargain purchase gain fell to £2.4 million, down from £2.6 million.
STM declared a full-year dividend of 1.4p per share, down from 1.5p year-on-year.
Whilst the year has had challenges, we have achieved a great deal in progressing our three-year transformation and growth strategy, chief executive Alan Kentish said. ....

Alan Kentish , ஆலன் கெஂடிஶ் ,