14th Sep 2022 14:11
STM Group PLC - London-based cross border financial services provider - Pretax profit in the six months to June 30 falls due to lack of gains compared to a year ago. Pretax profit dips to GBP480,000 from GBP947,000 a year ago. Revenue edges lower at GBP11.3 million versus GBP11.4 million.
Posts no gain on disposal of subsidiaries, down from GBP120,000. Further, no gain on revaluation of financial instruments compared to GBP222,000.
Declares unchanged interim dividend of 0.60 pence per share.
For the second half of 2022, Chief Executive Officer Alan Kentish expects "a healthy uplift in new business flow for our life assurance businesses in relation to certain of our annuity products, as well as increased new business flows for our self-invested personal pensions business through our strategic partners"
Current stock price: 25.60 pence, down 1.5% on Wednesday
12-month change: down 25%
By Tom Budszus; [email protected]
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