St James House PLC Trading Update (5566Q)
27 February 2021 - 1:15AM
UK Regulatory
TIDMSJH
RNS Number : 5566Q
St James House PLC
26 February 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
26 February 2021
ST. JAMES HOUSE PLC
("SJH", the "Group" or the "Company")
Trading Update
The Board of Directors of the Company (the "Board") is pleased
to provide the following trading statement and update on recent
developments.
Trading Update
Payment Services
The period 27 January 2021 to 25 February has seen further
growth in the payments division, with GBP:USD FX pair transactions
growing an additional 27% in volume compared to the period 23
December 2020 to 27 January 2021. The Company saw a significant
improvement in transaction values in both Euro and GBP, up 219% and
143% respectively, due to the continuing rate of account
openings.
The migration of existing customers using Prepaid Cards is
complete, as is the final stage of the previously mentioned
development of revamped prepaid services now ready for launch.
The Merchant Services team has continued developing an active
pipeline of clients going through approval which will see clients
going live in the coming weeks, and has signed two agreements with
international payment service providers who will also supply leads
for the Merchant Services business in the UK and overseas.
Lottery Services
Prize Provision Services continues to provide uninterrupted
services to hundreds of societies across Great Britain, with
lottery entries remaining steady.
The Government's recent announcement regarding the lifting of
COVID-19 restrictions is a positive development for PPS as clients
bring staff off furlough and face-to-face interactions begin to
increase.
Legal Services
St Frances House Ltd has a current workload of 258 cases in
progress, has completed or reached the settlement stage in a
further 66 claims in the last four weeks and added 40 new cases in
the same period. The Company continues to add to new cases at the
same rate as and when cases run off, and is intending to increase
and diversify the case type in the spring.
Group
The Company and its auditors have concluded the work required
for the submission and publication of its audited annual report and
accounts for the year to 31 January 2020 (the "Annual Report") with
the Financial Reporting Council. We now hope to finalise the Annual
Report next week and file with Companies House. The Company's
unaudited half-year financial results for the six months to 31 July
2020 will also not be published until the Annual Report is
published. As a result, the Company's ordinary shares of 1 pence
each will continue to be suspended from trading on AIM until these
financial results are published.
Graeme Paton, Chief Executive, commented, "As we make the final
preparations to the Annual Report we can look forward to a year of
growth from the solid foundations we have established in all
operating companies in the Group. We continue to work with our
professional advisors and expect trading in our shares to be
restored shortly."
For further information, contact:
St. James House PLC
Roger Matthews
Website www.sjhplc.com 020 3655 5000
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss 020 3328 5656
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END
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