Stanley Gibbons Group, the stamp and autograph dealer founded in 1856, will expand into China and Dubai after welthy collectors and investors in Asia, including Thailand, helped boost sales.
"India has been a big emerging market for us in terms of wealthy collectors," CEO Michael Hall said in a phone interview last week. China will revolutionise the stamp collecting market.
Stanley Gibbons began trading in Bahrain and Thailand this year. Overseas sales helped drive first-half revenue up 18 per cent to pond9.6 million (Bt553 million), the company said in a statement last week.
"The sales that we're making overseas are predominantly of higher value stamps, which we're selling through international agents," said Hall. "We're also doing more international business online than we ever did. Next year we're going to launch foreign language websites, because that's a current barrier to trade."
Net income climbed 22 per cent to pond1.28 million in the six months ended June 30. Stanley Gibbons remains confident of growing fulllyear sales and profit, the St Helier, Jersey-based company said in the statement.
Stanley Gibbons' stock has dropped 1.5 per cent this year, giving the company a market value of pond32.9 million.
The company has maintained the dividend at 2 pence per share and has said it appointed Donal Duff chief operating officer.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment