Proactive Investors - Run By Investors For Investors

Stanley Gibbons still has 'work to do' after more losses

“It would be nice to say that our problems are behind us but as the results show we still have a lot of work to do"
Times still tough for Stanley Gibbons

Stanley Gibbons Group PLC’s (LON:SGI) chairman concedes the group still has work to do after posting more losses in its latest half year.

“It would be nice to say that our problems are behind us but as the results show we still have a lot of work to do to achieve sustainable profitability,” said chairman Harry Wilson.

READ: Stanley Gibbons thrown a lifeline by Hornby owner

Underlying trading was volatile in several areas, though more encouragingly strong gross margins were generated across the two core divisions said Wilson.

If these can grow again, there is the basis for a sustainably profitable, cash generative business, he added.

Stanley Gibbons was rescued in February by Bermuda-domiciled mutual fund Phoenix UK, which took a 58% stake.

Shares fell 3% to 3.88p.


View full SGI profile View Profile

Stanley Gibbons Timeline

October 03 2016

Related Articles

December 18 2018
MetroRod has been in operation for 30 years but only became a franchise relatively recently
December 03 2018
“I think customers are seeing that we do offer value and that really is the answer,” said chief executive John Nichols
Scans and MRI
November 28 2018
The firm's subsidiary, Imaging Biometrics, recently appointed a South Korean distributor a few weeks after receiving the first commercial order for its StoneChecker technology

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use