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Stanley Gibbons lifts profit

By BFN News | 07:25 AM | Friday 26 June, 2015


Stanley Gibbons has posted an improved FY pretax profit of £3.1m, from a year-ago profit of £2.2m. Revenue was £56.9m, from £51.8m. Total dividend was 5p a share, against 7p for the preceding 15 months. Chairman Martin Bralsford commented: "The successful launch of the Stanley Gibbons Online Marketplace in May this year represented a key milestone towards delivery of the Group's long term strategy. "The launch marks the beginning of our mission to provide people with the best marketplace for collectibles, built on a community of honest and knowledgeable collectors. "Our recent acquisitions provide the Group with a breadth and depth of internal expert knowledge and trusted brands in their respective fields providing the base from which to deliver on our stated strategy to become a global auction house supported by a professional online auction platform. "The Board therefore remains confident that the strength of the market twinned with the expected return from the delivery of our strategy, particularly from the commercialisation of our recently launched Online Marketplace, provides material profit growth potential in the current financial year and beyond." OUTLOOK · The quality of our stockholding provides the opportunity to deliver growth in sales and profits in the current year · One of the high value sales, which failed to complete by the year end, was completed in April 2015 · Following the launch of the Stanley Gibbons Online Marketplace on 21 May 2015 growth in visitor numbers and GMV has been encouraging. We are focussed on delivering material growth in GMV and will be in a better position to report on the performance of our new website when our interim results are announced in November · The market for rare collectibles and fine and decorative arts remains buoyant evidenced by some high profile realisations, which included the highest price realised for the sale of a single stamp in June 2014, the 1c magenta from British Guiana, for $9.5m. Story provided by StockMarketWire.com

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