Stanley Gibbons (AIM:SGI) - results highlight faith in inventory and new online offering
The stamp and collectibles specialist has announced results for the year ending 31st March 2015. The last few years have been a period of huge change and a great deal now rides on the effective sale of inventory through the much improved distribution channels.
Comparison to prior years is made all the harder with the acquisitions and 15 month prior year period. Group sales for the year ended 31 March 2015 were £56.9m (fifteen months ended 31 March 2014: £51.8m). Online Gross Merchandise Value (“GMV”) for the year was up 22% to £13.9m (fifteen months ended 31 March 2014: £11.5m) – the desired online solution has been a long time coming and promises a great deal. Trading profits were £8.8m (fifteen months ended 31 March 2014: £7.0m) and adjusted profit before tax (excluding a host of items) £7.5m (fifteen months ended 31 March 2014:…