City adviser firm's profits tumble as UK revenue halves

 
Caitlin Morrison
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Revenue from the UK almost halved for STJ Advisors (Source: Getty)

STJ Advisors, which has worked on deals for DFS, Countryside and Just Eat, has reported a drop in revenue and profit in 2017.

Revenue fell to £5.9m from £9m, according to accounts filed with Companies House.

Operating profit more than halved, dropping to £2.3m from £4.9m, and so did pre-tax profit, which was down to £2.2m from £4.8m.

The group revealed revenue from Asia had increased, rising from £951,538 to £1.3m, however, revenue from the UK dropped by 44 per cent from £8m to £4.5m.

STJ's staff costs reduced in the year to 31 March 2017, from a total of £1.6m to £1.4m.

The company was founded by John St John and Simon North in 2008. Since then it has advised Royal Mail on the initial stages of its privatisation, and has worked share sales for Countryside, DFS and The Gym Group.

IPOs the firm has advised on include that of tool rental firm HSS Hire, the flotation of Germany's Delivery Hero, and Saga's float.

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