30th Jul 2014 09:39
LONDON (Alliance News) - Stanley Gibbons Group PLC Wednesday said trading in the first six months to the end of September was in line with expectations, though it warned this would be dependent on some major sales to key clients, which are expected to be completed in August.
The stamp collecting company said its new strategy is on track and said the launch of its online marketplace remains on track for later in the year.
The group said the integration of Noble Investments UK PLC, purchased in September 2013, is progressing. It said building works currently underway at its 399 Strand shop are on schedule to complete in September. Following the completion of the work, the Baldwin's and Stanley Gibbons teams will be integrated, and the group will sell its freehold property at Adelphi Terrace.
In a statement, the company said it remains well-placed for the remainder of the year based on the current quality of its stockholding, current sales initiatives and known, significant auction consignments coming through.
Stanley Gibbons shares were down 1.4% at 310.55 pence Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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