Profit warning stamps down Stanley Gibbons shares

Von Lucy Tobin

thisislondon.co.uk (12.01.10) - Shares in Stanley Gibbons plummeted 10 per cent to 13.8p today, after the London stamp dealer warned it would miss profit expectations.

Chief executive Michael Hall admitted the firm's guaranteed return investment scheme was expensive in a low-interest rate environment and had contributed to the profits warning.

The company's profit for the year will still come in 20 per cent higher than the previous 12 months, and Mr Hall predicted that 2010 would be a big year for the industry as the Festival of Stamps makes its once-a-decade visit to London.

Thousands of collectors — maybe including Russian tennis star Maria Sharapova, outed last month as a stamp enthusiast — are expected to flock to Islington's Design Centre for the event in May, and Stanley Gibbons hopes to lure them to buy its wares by providing a shuttle bus to its store on the Strand.

Mr Hall said: “The Festival of Stamps will bring some of the world's biggest collectors to town and we will be ready to capitalise on that.

(Quelle: http://www.thisislondon.co.uk/standard-business/article-23794017-profit-warning-stamps-down-stanley-gibbons-shares.do)

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Stanley Gibbons warns on profits - Stanley Gibbons pins profit hopes on 2010 Festival of Stamps

By Jamie Dunkley, City Reporter

telegraph.co.uk (12.01.10) - Stanley Gibbons, the stamp collecting group, has issued a profit warning for 2009 and is pinning its hopes for this year on the Festival of Stamps being held in London in May.

The company warned that full-year profits were likely to miss expectations after its guaranteed return investment scheme proved to be expensive in a low-interest rate environment.

The trading update sent its shares down 10pc during early trading before recovering to close down 11 at 131½p.

Despite the warning, Stanley Gibbons said its profits for the year would still come in 20pc higher than the previous 12 months. However, Michael Hall, chief executive, admitted the industry was focusing on the Festival of Stamps, which will be held in London for the first time in a decade.

During this time, thousands of collectors are expected to visit Islington's Design Centre where the event is being held. The company hopes to lure them to its Strand store by providing a free shuttle bus for exhibition visitors.

Martin Bralsford, non-executive chairman, said: "The festival will bring some of the world's biggest collectors to town and we will be ready to capitalise on that."

Turning to the forthcoming figures, he added: "We substantially grown revenues and profits in a difficult economic climate [and] converted profits into a strong cash flow and a healthy financial position. More importantly, we have achieved this at the same time as investing in our longer-term strategy and repositioning the business's attitude to risk by moving away from investment products offering future guarantees."

The company's warning comes despite experts insisting that stamp collecting was enjoying a surge in popularity with the Royal Philatelic Society reporting a rise in membership.

(Quelle: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/6975116/Stanley-Gibbons-pins-profit-hopes-on-2010-Festival-of-Stamps.html)

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Star collector Maria Sharapova leads new wave of stamp enthusiasts

By Miranda Bryant

thisislondon.co.uk (07.12.09) - Stamp collecting has shaken off its fusty image to become the latest old-fashioned hobby enjoying a surge in popularity.

Young Londoners, artists and famous names are starting collections, and stamp dealers have reported a big rise in sales. Wimbledon champion Maria Sharapova, French President Nicolas Sarkozy and Rolling Stones guitarist Ronnie Wood are among the collectors.

The Royal Philatelic Society said it had noticed a significant rise in membership, and eBay reports a 30 per cent increase in sales of stamps in the past month. The online retailer says sales of books on the pastime are up 93 per cent in the past week.

Stanley Gibbons, the world's leading stamp dealership, said custom had increased by nearly a quarter in the past year and its membership had grown among young people.

James Swyer, the company's marketing coordinator, said: “A recently circulated project brief to London art colleges saw a surge of interest from budding designers, highlighting the relevance of the hobby in modern culture.” Sharapova, 22, has collected stamps since she was a child.

“It is something introduced to me when I was very young,” she said. “I have been very lucky over the years to travel to some amazing countries and I always try to collect stamps from every place I go. I am hoping one day that I will be able to hand my collection over to my kids.” Collectors said the hobby was following in the footsteps of cheaper pastimes such as knitting, gardening and cupcake-baking, which have both enjoyed a resurgence.

Artist Phillipa England, who uses stamps as part of her work, which she sells online, said: “It's a cheap hobby. People are looking for things that are interesting but affordable, especially during recession. They are going back to old crafts like knitting, crocheting, and stamp collecting's part of that.”

Dealers say social networking sites and online retailers have made it easier for collectors to discuss their hobby and to buy and sell.

There are about 50 million stamp collectors worldwide, but very few stamps are worth more than a few pounds.

The Queen's head ... and Shakespeare's too

* 2.5 million people in Britain — 5.4 per cent of the population — collect stamps.

* The world's rarest stamp is the 1c British Guiana of 1856, now valued at more than $1 million (£606,800).

* In 1996 the Treskilling Yellow, from Sweden, sold for $2.5 million.

* In 1964, William Shakespeare became the first person other than royalty to appear on a British stamp.

* The UK is the only country that does not carry its name on stamps.

* The standard monarch stamp, the Machin Definitive, is the most reproduced image in history.

* The biggest selling single special was the Princess Diana memorial issue. Some of the Welsh language presentation packs have sold for hundreds of pounds.

* With an average increase in value of 10 per cent a year — 36.8 per cent last year — stamps are among best investments of the last 100 years, ahead of bonds, silver and gold.

(Quelle: http://www.thisislondon.co.uk/standard/article-23780497-star-collector-maria-sharapova-leads-new-wave-of-stamp-enthusiasts.do)