Stanley Gibbons’ profits up 217%

Thursday 20 November 2014

The Jersey-based Stanley Gibbons Group has announced its interim results for the six months to end of September which show a rise in sales of 58% across the business.

The strong performance means that trading profits are up 217% to £6.1 million, over the period, and reflect the sale of some high quality collections as well as the group’s overall growth through acquisition.

The period has also marked an important milestone in the delivery of the online strategy of the group, with the ‘soft launch’ of its online collectibles marketplace: marketplace.stanleygibbons.com

In addition, the six months marked the integration of Baldwin’s into the group. Following the sale of its freehold property in Adelphi Terrace the coin merchants moved into the group’s retail flagship premises at 399 Strand, London. Fine antiques and decorative art dealer Mallett plc was also acquired in October.

Chairman Martin Bralsford said the Board believes there are substantial opportunities to increase the Group’s market share further.

He said: "The enlarged group delivered a strong trading performance in the six months ended 30 September, 2014, which included trading profits of £2.4 million contributed from the acquisition of Noble and Murray Payne in November last year. The growth in like-for-like profits of 93% in the period was primarily the result of the initial crystallisation of returns from some recent exceptional purchases of major high quality collections.

"The recent acquisition of Mallett on 20 October 2014, significantly enhances the group’s authority in fine antiques and decorating arts, consolidating its influence across the broad market for collectibles. In particular, the acquisition provides a stronger online auction platform to enhance our stated strategy to become a leading online collectibles marketplace and global auction house for fine and decorative arts, collectibles and other valuables."

The acquisition of Noble Investments brought Dreweatts & Bloomsbury Auctions into the Stanley Gibbons Group in November 2013; while stamp dealer, Murray Payne Limited was also acquired in January of this year.