Gibbons pins hopes on China orders

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The Independent Online

Stanley Gibbons posted a 10 per cent rise in profits as it pinned its hopes on an orders boost from the Chinese stamp market.

The company, which sells everything from rare Penny Blacks to autographs by Marilyn Monroe, reported pre-tax profits of £1.6m in the six months to 30 June after sales rose 24 per cent to £11.9m.

Gibbons expects further growth will come from the development of its website and entrance into China. It has also seen a resurgence in demand for British stamps, helped by new collectors, which was up by 74 per cent in the first half.