Collectibles dealer Stanley Gibbons reported rising interim profits and has forecast growth for the rest of the year 'irrespective of economic conditions' as it continues to lead the way in sourcing rare stamps.
The firm, which has set thousands of youngsters on the path to a life-time of stamp collecting, declared profits before tax for the first half of the year of £1.8m, up 8% on the same period of 2011, although sales were down 2% at £14.7m.
Online sales grew 90%, and this is clearly a growth area for the firm which felt confident enough to declare an interim dividend up 10% on 2011 at 2.75p per share.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Stock levels are valued at £24.5m as the firm prepares for the launch of a rare stamp fund in October.
The Chairman, Martin Bralsford, commented: "As a result of the success in sourcing of key philatelic rarities, the group is in a strong position to deliver growth in the remainder of the current year, irrespective of economic conditions, which is expected to include the launch of a rare stamp fund in October.
"The fund will be regulated and open to sophisticated investors and hold some of the most famous and best quality philatelic items at attractive values. It will combine prudence with good expected returns from future capital growth."
BS
-
Cash in on the growth prospects of Europe's companiesOpinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
