STM Group has posted an H1 pretax profit of £1.2m, from £1.4m, and declared an interim dividend of 0.5p a share. It has also acquired London & Colonial Holdings for up to £5.385m. London & Colonial is a service led independent financial services group that offers SIPP products in the United Kingdom. Meantime, its results were achieved on revenue of £7.9m, from £8.3m. The Board is also pleased to announce that Alan Kentish, having acted as Interim Chief Executive Officer since 1 April 2016, has now been permanently appointed to this role.
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