logo-loader

Stanley Gibbons expects to benefit from London 2012 Olympics collectibles

Published: 17:57 02 May 2012 AEST

no_picture_pai

Stanley Gibbons (LON:SGI) says commemorative collectibles for the Queen's diamond jubilee are in strong demand and expects to benefit from products issued for this Summer's Olympic games.

The stamp specialist is well placed to deliver growth this year, it told investors in a trading update ahead of today's AGM.

Trading in the first four months of the year has been broadly in line with expectations but notably, online sales continue to grow and were double the levels of 2011.

Following a review of online development, the company 

launched its first mobile application last month - the Gibbons Stamp Monthly magazine available to download on iTunes, with a second application planned to be launched later in May.

Meanwhile, sales from the company's recently opened Hong Kong office were higher than expectations for the first four months, vindicating its plans to open new investment offices later this year, it said.

"We have also completed our scoping for a new office in Singapore, which we expect to open in the second half of the year.  Furthermore, we have also commenced market research on a potential office in Rio de Janeiro, with a further visit scheduled for later this month."

Stanley Gibbons said it had made progress towards launching a rare stamp investment fund and is currently finalising legal issues, while sales and profits had improved in its publishing division.

If approved at the AGM, the company's final dividend of 3.5p per share will be paid on May 21 this year.

As at 8.35 am, the firm's shares were up 0.22 per cent, at 229.5 pence.

 

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

12 hours, 6 minutes ago