Stanley Gibbons plc (AIM:SGI) – misses expectations
Before entering its close period, the Board of Stanley Gibbons provides an update to the market on its estimated results for the preceding financial year ended 31 March 2015, and a trading outlook for the current year. A summary of which is below
For the Year ended 31 March 2015, the Board expects that the Group’s sales and profitability for the year ended 31 March 2015 will show significant growth compared to the prior year as a result of the contribution from recent acquisitions. However, it is expected that results will be materially below current market expectations because a number of anticipated high value sales within the Group’s retail business were not completed in the run up to the year end. The Board now expects a number of these sales to progress to completion within the first half of the current financial year.…