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STM Group – annual recurring revenues rise to 91%; focus on improving margins

STM Group said today (12 August) it has restructured its board while also reporting trading in line with its expectations in the six months to 30 June 2021. The...

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.  Related articl...

STM sells Jersey trust and services arm to Guernsey firm STM Group, the cross-border financial services provider, has sold its Jersey based trust and company services businesses to privately-owned Guernsey-headquartered Imperium Group for a cash consideration of £1.40m. The sale completes its strategy to focus on its core activities of pension administration and life assurance, STM announced today (10 May). Related articles The sale proceeds will further contribute towards funding organic growth opportunities and build on cash resources for further M&A activity, it said, while for Imperium i...

IN BRIEF: STM unit eyes Supreme Court permission to appeal verdict Thu, 29th Apr 2021 20:27 STM Group PLC - Isle of Man-registered cross-border financial services provider - Says subsidiary company Options UK Personal Pensions LLP - formerly Carey UK Pensions LLP - on Wednesday afternoon sought permission from the Supreme Court to appeal the recent judgment by the Court of Appeal in the long-standing Adams v Carey case. The original case was heard in March 2018 and relates to an investment made in 2012. Chief Executive Officer Alan Kentish commented: "It is a natural step for Options, having ...