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

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Government plans could see NS&I boost interest rates
Savings

Government plans could see NS&I boost interest rates

The government-backed bank has a new funding target, which could prompt it to boost the rates on its Premium Bonds, ISAs and bonds.
16 Mar 2023
Share tips of the week – 17 March
Investments

Share tips of the week – 17 March

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages
10 Mar 2023
How to make your child a tax-free millionaire by age 37
Investments

How to make your child a tax-free millionaire by age 37

Exclusive research for MoneyWeek reveals how funding an ISA and a pension for your child until age 18 could build up a seven-figure sum by the time th…
14 Mar 2023