Full-year revenue at STM Group reached £28m in 2023, beating market expectations as a result of higher than forecasted interest income.

The group reported a revenue of £24.1m in 2022.

The financial results come after the company agreed to a recommended takeover by Jambo for £35.6m. STM said that the deal "continues to progress".

The financial services firm said that it has incurred acquisition related costs along with a further £700,000 in exceptional costs.

Looking forward, the board expects to report its overall performance for the 2023 financial year in line with its previous expectations, excluding the impact of the acquisition related costs.

---