STM Group expects 2020 revenues of £24 million

STM Group plc (LON:STM), the multi-jurisdictional financial services group, has announced, in line with existing guidance provided in the trading update on 30 November 2020, that it expects to report 2020 Revenues of £24.0m, EBITDA of £3.6m, PBT of £2.0m and net cash of £15.5m. These estimates remain subject to any audit adjustments. 

STM expects to announce results for the 12 months to 31 December 2020 in early April 2021.

The Company also announces that Therese Neish has notified the Board of her intention to step down as Chief Financial Officer and resign from the Company. A search will commence immediately for a new CFO, to be based in the UK.  The Board expects to make an appointment within Therese’s notice period to allow ample time for an orderly handover and will update the market accordingly in due course. 

Therese has been with STM for over 17 years, serving as CFO and a member of the Board for the last 7 years, and her decision to step down reflects her view that now is the right time to hand over the role and allow her to explore other career opportunities.  

Alan Kentish, Chief Executive Officer of STM, commented:

“We would all like to thank Therese for her contribution during a period where we have significantly transformed the business and made a number of complementary acquisitions. 

“We are grateful for her ongoing support in ensuring a seamless transition during the appointment and on-boarding of a successor and wish her the very best for the future.”

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