Today’s results revealed that the group’s profit before taxation reached £1m over the period, up from £0.3m in the first half of 2013.
Its revenue also increased by 12% to reach £7.4m, from £6.6m, while its earnings before interest, taxation, depreciation and amortisation grew by 63% to reach £1.3m.
The company added that its pensions arm, STM Pensions, remains its largest and most profitable division.
The group said it is looking to further expand through the development of additional products and services.
It added that this growth will further capitalise on the changes it has recently made, which include incorporating a Gibraltar Life Insurance Company, and developing a specialist international pensions division.
Chief executive Colin Porter said the results reflect the "continued delivery of a new look STM", which now has “more focus” on supporting independent financial adviser markets with pension and life assurance product initiatives.
He added that this places the company in an “enviable position” for continued growth and profitability in coming years.
STM is an AIM-listed financial services group specialising in the delivery of products to professional intermediaries, and asset administration for international clients in relation to retirement, estate and succession planning, and wealth structuring.
Green sheds shares
Shortly after the period covered by today’s interim results closed, deVere chief executive Nigel Green sold the majority of his shares in STM.
Green, who sold over 6.7 million shares, said the sale represented the “next stage” in the company’s aforementioned growth strategy.
He now holds just over 5 million shares in the company, representing nearly 10% of the company’s issued share capital.
