StockMarketWire.com - Financial services provider STM Group posted an 11% rise in first-half profit as it grew organic revenue and an efficiency drive boosted margins.

Pre-tax profit for the six months through June rose to £2.1m, as revenue rose 6% to £10.8m.

The company declared an interim dividend of 0.7p, up 17% on-year.

'The various trading divisions across the group have collectively performed in line with management expectations during the first half of the year, and have delivered a solid set of underlying financial results,' chief executive Alan Kentish said.

'This performance gives the board confidence in meeting management expectations for the full year.'

'The successful integration of Harbour demonstrates the model for future acquisitions as and when further opportunities arise.'

'The board continues to implement its three year de-risking strategy by looking to introduce more financial services products for both the expatriate market, as well as the UK market, across the pension and life sectors.'

'In addition, we continue to challenge our processes and systems as part of a programme to increase our profit margins.'






Story provided by StockMarketWire.com