Source - Alliance News

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 £480,000 from £947,000 a year ago. Revenue edges lower at £11.3 million versus £11.4 million.

Posts no gain on disposal of subsidiaries, down from £120,000. Further, no gain on revaluation of financial instruments compared to £222,000.

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%

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