26th Mar 2019 10:58
LONDON (Alliance News) - STM Group PLC on Tuesday said both its annual profit and revenue remained flat in 2018 on the previous year, amid "significant operational progress".
The financial services company posted a "healthy" pretax profit of GBP4.0 million for 2018, exactly the same as for 2017, while revenue came in broadly flat at GBP21.4 million compared to GBP21.5 million the year prior.
"We are pleased with another solid profitable year at STM, which has been coupled with significant operational progress within the group," Chief Executive Officer Alan Kentish said.
"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."
STM marginally increased its final payout to 1.3 pence per share, from last year's 1.2p. This made for a total annual dividend of 2.0p, 11% higher than last year's 1.8p.
Looking ahead, the company said its expansion in the life and pension business and entrance into the workplace pension market "underpin an ambitious three-year strategy of growth" both in revenue and profitability.
STM Group shares were trading 2.2% higher on Tuesday morning at 47.50p each.
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