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.

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

Article continues below

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

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.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.