Daily Management Review

The Oldest Dealer of Rare Stamps Stanley Gibbons Reduces Profits


10/09/2015


British firm Stanley Gibbons, the world's oldest dealer of stamps and the only such company listed on the London Stock Exchange, this week warned of an expected reduction of the annual profit, having lost more than a quarter of capitalization because of this.



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According to The Guardian, Stanley Gibbons, founded almost 160 years ago, blames the decrease in revenues slowing economic growth in Asia and the complexity of the sale of the most expensive collectible copies.

The company impairs profit forecasts for the second time in six months.

In the first half of this financial year (April-September), the revenues and profits were significantly lower than a year earlier. In the second half of the financial year, begun on October 1, Stanley Gibbons expects a gradual recovery in revenue and earnings, yet the previously announced annual figures would not be achieved.

Peel Hunt brokerage firm doubled downgrade of the annual Stanley Gibbons’ pre-tax profits - from 10 million to 5 million pounds.

The last really big lot that Stanley Gibbons failed to realize was rare coin the time of Edward VIII, sold for a record 516 thousand pounds in May last year.

In November 2014, the company launched its online auction for philatelists, numismatists and other collectors.

Since the beginning of 2015, Stanley Gibbons capitalization fell by almost two thirds.  
 






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