Stanley Gibbons predicts Royal Wedding boost

25th Mar 2011 07:46

Stamp and collectibles trader Stanley Gibbons grew underlying profit by 8% in 2010 and expects to make good money on Royal Wedding memorabilia this year.Adjusted profit before exceptional items increased to £4.5m and statutory profit before tax was up 5% to £4.3m from £4.1m in 2009. Sales rose 13% to £26.4m.The marriage of Prince William and Kate Middleton in April is expected to cause a rush for first day covers and other commemorative collectible products.Next year's London Olympics should generate similar interest, the company hopes.It beefed up its stock levels from £9.3m to £14.8m in 2010, mostly exceptional and rare collectibles and top quality rare stamps."Such assets generally appreciate in value over time, although remain prudently stated in our balance sheet at historic cost, not market value," it said.There's a final dividend of 3.25p a share, up 8% on last year.LW