Stanley Gibbons posts bigger profits

7th Aug 2009 07:53

Stamp collector Stanley Gibbons is bullish on full year prospects after lifting profits by 13% in the first six months and making a strong start to the second half.Profit before tax for the six months ended 30 June 2009 jumped to £1.43m from £1.26m in 2008 on sales up 18% to £9.6m.Non-executive chairman Martin Bralsford called the half-year performance "remarkable" given the prevailing market conditions."The current strength in our core rare stamp market, evident from recent auction realisations, together with a stronger start to trading in the second half to date, leads your board to remain confident on the company's ability to grow both sales and profits for the full financial year," he said.The interim dividend stays at 2p a share.