STM Group plc (GB:STM) has released an update.
STM Group Plc has reported a significant increase in revenue and profitability for the first half of 2024, with a revenue of £15.2 million and a profit before taxation of £1.5 million, marking a notable improvement from the previous year. The financial services group is also in the process of being acquired by Jambo SRC Limited, with regulatory approvals underway and a scheme of arrangement pending sanction by the Isle of Man Court, which could result in a minimum cash exit value for shareholders. These developments come after strategic shifts, including a review of the Group’s technology strategy and the divestment of its workplace pension business, aimed at enhancing profitability and competitiveness.
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