12th Apr 2006 11:21
Stanley Gibbons Group Limited12 April 2006 THE STANLEY GIBBONS GROUP LIMITED12 April 2006 THE STANLEY GIBBONS GROUP LIMITED "the Company" AGM TRADING STATEMENT All the resolutions proposed at the Annual General Meeting of the Company heldin Jersey this morning were duly passed, including the Special Resolutionauthorising the Company to purchase up to 15% of its issued share capital in themarket for cancellation. Commenting on current trading, the Chairman issued the following statement: "We have had an excellent start to the year, with our best ever first quarterresult. Turnover (unaudited) for the first three months of 2006 was 48% higherthan for the same period last year, with a corresponding increase in profits. We have continued to recruit new clients, coupled with strong demand for ourfull range of products. The SG100 Stamp Price Index has increased by 4.1% in thefirst quarter of the year demonstrating that the re-rating of rare stamps in theoverall collectibles market has increased the natural pressures on supply anddemand. Momentum is still building in rare stamps as an alternative asset classand we are at the forefront of the market with the most recognisable brand nameand largest stockholding of stamps in the world. Our Internet site had over 2 million unique visitors in the last year, out of anestimated total 30 million stamp collectors worldwide. Both sales andrecruitment are improving and 'stickiness' (time spent on site by visitors) isalso increasing. From being predominantly UK focused, the Internet has been aprime mover in changing our sales base - over 40% of total sales are now madeoverseas. Cash generation remains strong, with profits flowing through to cash providingus with the necessary working capital to re-invest in our future profit growth. Our shareholder register has become even more biased towards institutionalholders, who are supportive of our strategy and looking to be long-term holdersof our shares. We are confident, after our first quarter, that we will continue to achievesustainable growth in turnover and profitability during 2006." The Company's final dividend will be paid to shareholders on 18 April 2006 andits interim results announced on Friday, 28 July 2006. For further information contact: The Stanley Gibbons Group LimitedPaul Fraser, Chairman - 020 7836 8444Michael Hall. Chief Executive - 01425 472363 Seymour Pierce LimitedJonathan Wright - 020 7107 8000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SGI.L