By Iain Gilbert
Date: Monday 30 Nov 2020
LONDON (ShareCast) - (Sharecast News) - Financial services provider STM Group said on Monday that it expects to deliver revenues of £23.7m for the twelve months ending 31 December despite "significant macro-economic challenges" experienced throughout the year.
STM anticipates that underlying earnings will come to £3.6m for the year and pre-tax profits will hit around £2.0m thanks to a "strong recurring revenue base from existing business", leaving its foundation for its future growth and profitability predominantly unchanged.
The AIM-listed group also adopted "a more prudent methodology to its guidance" for the coming year and beyond and now anticipates revenue growth of roughly 7% year-on-year in 2021, whilst operating expenses were only forecasted to increase "marginally" as a result of both direct savings and increased operational efficiencies.
Chief executive Alan Kentish said: "The prolonged nature of the Covid-19 pandemic has had a more significant impact than we previously anticipated.
"This is frustrating but does not greatly affect the strong core existing business which gives us reliable revenue visibility and a stable long term platform to operate from."
As of 1010 GMT, STM shares were up 6.26% at 32.94p.
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Currency | UK Pounds |
Share Price | 57.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 60.00 |
52 Week Low | 24.50 |
Volume | 8,228 |
Shares Issued | 59.41m |
Market Cap | £34.16m |
RiskGrade | 217 |
Value |
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Price Trend |
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Latest | Previous | |
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Final | Interim | |
Ex-Div | 31-Aug-23 | 20-Oct-22 |
Paid | 19-Sep-23 | 16-Nov-22 |
Amount | 0.60p | 0.60p |
Time | Volume / Share Price |
12:03 | 2,107 @ 56.95p |
08:11 | 6,121 @ 56.95p |
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