Business
Interim results for the six months to 30 June 2016
Interim results for the six months to 30 June 2016.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \nRNS Number : 5250E Secure Trust Bank PLC 19 July 2016 \n\n \nSECURE TRUST BANK PLC\n \nUnaudited interim results for the six months to 30 June 2016\n \nRecord level of profit and repositioning for the future\n \nIn its sixty fourth year of trading Secure Trust Bank PLC (\"STB\", the \"Bank\" or the \"Group\") is pleased to announce total Group profit after tax of £129.1m for the six months to 30 June 2016 including the profit on disposal of the Everyday Loans Group (\"ELG\"). The Bank has traded strongly during H1 2016, despite taking a defensive stance as highlighted in our annual results, to mitigate any potential impacts arising as a result of the EU referendum vote. The post-tax profits of £129.1m substantially increased the group's capital and liquidity reserves. Underlying profits before tax, which primarily allow for the effect of the sale of Everyday Loans, are £17.4m which are 54% higher than the adjusted profit before tax for the first half of 2015 of £11.3m. The bank is well positioned to navigate the uncertainties created by the EU referendum outcome and to seek to take advantage of the opportunities that may arise.\n \nFINANCIAL HIGHLIGHTS\n \n· Equity per share £12.55p representing 658% increase following significant value creation since IPO (2 Nov 2011 : £1.66p) excluding £4.28p dividends per share paid in the period since IPO\n· Total profit after tax £129.1m (H1 2015 : £12.9m)\n· Underlying profit before tax* £17.4m (H1 2015 : £11.3m) up 54.0%\n· Statutory profit before tax* £12.5m (H1 2015: £10.4m) up 20.2%\n· Operating income* £57.3m (H1 2015: £42.8m) up 33.9%\n· Gain on disposal of ELG confirmed at £116.8m\n· Underlying annualised return on average equity 20.4% (H1 2015: 23.6%) reflecting the increase in equity from the sale of ELG\n· Earnings per share 709.9p (H1 2015: 70.8p)\n· Underlying earnings per share* 78.5p (H1 2015: 50.1p)\n· Interim dividend per share of 17p in addition to special interim dividend of 165p per share already declared, (H1 2015: 17p)\n \nOPERATIONAL HIGHLIGHTS\n \n· Business ...