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Stanley Gibbons chipper on H2, but warns on FY

By BFN News | 07:22 AM | Tuesday 06 October, 2015

Stanley Gibbons expects it will deliver materially higher revenue and profit in H2, but cautioned it was unlikely to meet market forecasts for the FY. As reported previously, the Group's auction calendar for 2015/16 is more heavily weighted towards H2, the company said in a trading update. It continued to work on a number of initiatives with the aim of delivering substantial sales from its stock of rare collectibles. "Furthermore, following the completion of the integration and rationalisation of recent acquisitions, the Group will benefit from a reduced fixed cost base and better cross selling of products and services across our customer base in the second half," the company said in a trading update. "The Group continues to embark on its strategy to evolve and diversify business operations to an online and auction business model with more predictable revenues streams and profits. "The Directors believe that the opportunity to materially grow shareholder value through the continued implementation of our online Marketplace and global auction business remains a positive proposition. "On the basis of the performance in the first half, the Board now believes that, as a result of the weakness being experienced in our Asian operations and the continued illiquidity in high value stock items, it is unlikely that the Group will achieve the market forecast for the full year." Story provided by

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