Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSGI.L Share News (SGI)

  • There is currently no data for SGI

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Stanley Gibbons 2013 Sales Rise 16%; Profit Hit By Online Investment

Fri, 28th Mar 2014 13:04

LONDON (Alliance News) - Rare-stamp merchant Stanley Gibbons Group PLC Friday reported a 16% rise in revenues for 2013, but said its profits for the year were lower, as it spent money on online development in preparation for the upcoming launch of its online collectibles marketplace later this year.

The AIM-listed company, which specialises in the retailing of collectable postage stamps and similar products, declared a second interim dividend of 4.00 pence per share, up 6.7% from 3.75 pence a year earlier, bringing its total dividend for the year to 7.00 pence, an increase of 7.7% from 6.50p in 2012.

"The most exciting event of the current year is in the impending launch of our online collectibles marketplace where the board believes there are opportunities, further enhanced by the acquisition of Noble, to deliver substantial online revenues from the global collectibles market," said Chairman Martin Bralsford in a statement.

The company said it aims to launch the Stanley Gibbons-branded online marketplace in the second half of 2014.

Revenues rose by 16% in 2013 to GBP41.6 million, up from GBP35.6 million in 2012, which the company said was boosted by GBP45 million acquisition of Noble Investments UK during the year. It said that online sales represented 8% of total revenues for the year.

Noble is comprised of Baldwin's, a rare coin dealer; Dreweatts, an antiques auctioneer; Bloomsbury, an auctioneer of books, manuscripts and art; and Apex Philatelics.

However, Stanley Gibbons reported a lower pretax profit for the year of GBP3.7 million, compared with GBP5.3 million a year earlier. The group said trading profits for the year, excluding investment in online development, exceptional operating charges and actuarial accounting adjustments, rose 9.5% to GBP6.9 million, up from GBP6.3 million a year earlier.

The gross margin percentage for the twelve month period was 43.2%, compared with 43.7% last year.

"It is expected that a wider range of cross selling opportunities between Stanley Gibbons and Noble will further increase sales in the current year. Integration cost savings across the enlarged group and the implementation of improved efficiencies are expected to deliver benefits later in 2014," the company said in a statement.

Stanley Gibbons also said that its is actively investigating potential opportunities in Geneva in Switzerland, New York in the US, and Sydney in Australia.

The group said it increased its net cash position by GBP9.5 million in the six months to December 31, 2013, to GBP17.3 million.

It said that its stock-holding at the end of the year of rare stamps and collectibles were stated at a historic cost of GBP30.6 million, up from GBP20.7 million the prior year, which it said provides a strong asset base for future trading profits.

Shares in Stanley Gibbons were trading 1.0% higher at 340.75 pence per share Friday.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

Copyright © 2014 Alliance News Limited. All Rights Reserved.

More News
26 Jun 2015 07:24

Stanley Gibbons sales grow but adjusted EPS misses target

AIM-listed stamps, coin and collectables group Stanley Gibbons reported solid growth in its results for the full year ended 31 March, on the back of the contribution from recent acquisitions. However, the company said trading in core philatelic dealing was hampered by a number of anticipated high va

Read more
26 Jun 2015 06:00

LONDON MARKET EARLY CALL: Stocks Seen Lower With Tesco In Focus

Read more
26 Jun 2015 05:20

Earnings, Trading Statements Calendar - Week Ahead

Read more
25 Jun 2015 15:52

LONDON MARKET CLOSE: Stocks End Mixed As Greece Negotiations Stall

Read more
25 Jun 2015 15:29

Earnings, Trading Statements Calendar - Week Ahead

Read more
2 Apr 2015 14:02

DIRECTOR DEALINGS SUMMARY: Nostrum Chairman Sells 18.7 Million Shares

Read more
2 Apr 2015 12:20

Stanley Gibbons warns annual results will be below expectations ahead of website launch

Shares in Stanley Gibbons fell over 8% on Thursday, after the collectibles group warned that its annual results will be below market expectations. The London-listed company said it expected group sales and profitability for the year to 31 March will show a "significant" increase in growth compared t

Read more
2 Apr 2015 10:20

DIRECTOR DEALINGS: Stanley Gibbons Chairman Buys After Profit Warning

Read more
2 Apr 2015 07:22

Stanley Gibbons Issues Profit Warning On Sales Delays

Read more
12 Jan 2015 06:18

UK Dividends Calendar - Week Ahead

Read more
9 Jan 2015 16:09

UK Dividends Calendar - Week Ahead

Read more
9 Jan 2015 06:20

UK Dividends Calendar - Week Ahead

Read more
21 Nov 2014 15:59

Trifast execs make tidy sum through share option sale

The chairman and boss of fastenings group Trifast have both raised £1.08m each after selling shares issued under the company's 2009 share option plan. Executive chairman Malcolm Diamond and chief executive Jim Barker, who have both been with the company for over three decades, were issued 1m shares

Read more
14 Nov 2014 09:04

Acquisitions Drive Surge In Stanley Gibbons' Interim Profit, Revenue

Read more
14 Nov 2014 06:16

UK Earnings, Trading Statements Calendar - Week Ahead

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.