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STM says CFO Therese Neish standing down; reiterates guidance
StockMarketWire.com
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Cross-border financial services group STM reiterated that it expected to report a fall in annual profit, and announced its chief financial officer Therese Neish was leaving.
Pre-tax profit for the year through December was expected to fall to £2.0 million, on revenue of £24.0 million.
The company said the forecast was in line guidance given in November.
In 2019, STM reported a pre-tax profit of £3.9 million and an underlying pre-tax profit of £2.6 million, on revenue of £23.2 million.
STM said a search for a new CFO would commence immediately.
'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,' it added.
Neish's decision to step down reflected her view that 'now is the right time to hand over the role and allow her to explore other career opportunities',' the company said.
Story provided by StockMarketWire.com
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