Stanley Gibbons first quarter sales shine

Stamp collection firm Stanley Gibbons reported an increase in first quarter turnover, despite charges related to investment in its online strategy, and said 2013 sales benefited from increased stock.

Stamp collection firm Stanley Gibbons reported an increase in first quarter turnover, despite charges related to investment in its online strategy, and said 2013 sales benefited from increased stock.

Turnover for the traditionally quiet first quarter rose 12% from last year, despite 2012 including a large sale of £1m to one client.

Overall trading in the quarter was in line with company expectations and after charging costs associated with its planned increased investment in developing our online strategy.

Net cash balances were in excess of £7.0m at the end of March.

"Implementation of our strategy is on target. The board remains enthusiastic about the prospects in monetising our brand, products and services to achieve their potential," it said in a company update.

The group has recommended a final dividend of 3.75p per share.

Stanley Gibbons said its business is now split into two streams; a traditional dealing & auction activities and a digital division.

CJ

Recommended

Get healthy returns from these three healthcare stocks
Share tips

Get healthy returns from these three healthcare stocks

Professional investor Paul Major of the BB Healthcare Trust highlights three of his favourite healthcare stocks.
25 Oct 2021
Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021

Most Popular

Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Emerging markets: the Brics never lived up to their promise – but is now the time to buy?
Emerging markets

Emerging markets: the Brics never lived up to their promise – but is now the time to buy?

Twenty years ago hopes were high for Brazil, Russia, India and China – the “Brics” emerging-market economies. But only China has beaten expectations. …
18 Oct 2021