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The Stanley Gibbons Group. Interim Results - 2012 Investors Presentation August 2012. Contents. Pages 1. Financial Highlights 3-4 Operating Highlights 5 Philatelic 6 Publishing 7 Other Collectibles 8

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interim results 2012 investors presentation august 2012

The Stanley Gibbons Group

Interim Results - 2012

Investors Presentation

August 2012

1

contents
Contents

Pages

1. Financial Highlights 3-4

  • Operating Highlights 5
    • Philatelic 6
    • Publishing 7
    • Other Collectibles 8
    • Internet 9
  • Outlook & Strategic Focus 10
  • Management Team 11

Appendix I Income Statement 12

Appendix II Balance Sheet 13

Appendix III Cashflows 14-15

Appendix IV Contact Details 16

2

financial highlights1
Financial Highlights
  • Sales broadly in line with prior period, reflecting a shift in sales mix to higher margin business
  • Online sales up 90% benefiting from the redevelopment of our core websites completed in the first half last year
  • Gross margin% up from 37.9% to 44.5% as a result of change in sales mix and acquisition of top quality stamp collections in period at substantial discounts to market value
  • Earnings per share up 11% to 6.53p
  • Interim dividend increased by 10% to 2.75p
  • Cash used in operating activities of £3.6m (2011: cash generated of £0.9m) reflecting short term investment in stockholding of £7.7m (2011: £0.9m)
  • Stock levels at 30 June 2012 stated at historic cost of £24.5m (30 June 2011: £15.6m), representing a short term working capital commitment in preparation for the expected launch of rare stamp fund

4

philatelic
Philatelic
  • Change in sales mix in period with reduction of 17% in sales of investment products
  • Acquisition of top quality stamp collections and key philatelic rarities at substantial discounts to market value
  • New office in Hong Kong, opened in September last year, contributed sales of £1.3m and profits of £0.3m in first half
  • Prevailing strong demand for rare stamps from China with sales double that of the prior period at £1.4m
  • Auctions benefited from sale of “Arnhold Collection” with total realisation of £0.9m (129% of pre-sale estimate)

6

publishing
Publishing
  • Improved profitability and focus following completion of restructuring and rationalisation exercise last year
  • Stronger publishing schedule in period and negotiation of lower print costs on key catalogue titles
  • Increase in online sales of catalogues, albums and accessory products of 132%, representing 33% of total sales (2011: 19%)
  • Evolving traditional print business to e-publishing including launch of mobile applications in period

7

other collectibles
Other Collectibles
  • The Benham Group has contributed profits of £1m since we acquired the business in September 2010 for £1.5m (21 months)
  • Strong demand being experienced for commemorative products issued around the Queen’s Diamond Jubilee and the London Olympics 2012, particularly in China
  • Sales of rare coins and military medals doubled to £0.8m as we developed further internal expertise in these areas
  • Strategic review underway to improve profitability and return on capital from our quality stockholding of autographs and historical documents

8

internet
Internet
  • Successful launch of smart phone applications providing collectors worldwide with easier and greater access to our key services and inventory
  • Online sales up 90% benefiting from the redevelopment of our core websites completed in the first half last year
  • Project to digitalise and make available online our comprehensive catalogue data on schedule for completion by the end of the year
  • Strategic review of internet development plans completed in the period resulting in an increased investment in web development and support team to accelerate and maximise returns from online trading platform

9

outlook strategic focus
Outlook & Strategic Focus
  • Actively pursuing opportunities to accelerate and maximise the returns from our online strategy
  • Investment office in Singapore scheduled for opening later in the year
  • Development of investment sales opportunities in Brazil through newly appointed SG agent in Rio De Janeiro
  • In discussions with potential business partners in the US in respect of our online and auction developments
  • Fund raising for rare stamp fund with proposed launch in October
  • Improving sales and return on capital from our quality stockholding of autographs and historical documents

10

management team
Management Team
  • Board changes:
    • John Byfield appointed as Corporate Development Director in February 2012 (previously a non-executive director since April 2010)
    • Bob Henkhuzens (non executive and Chairman of audit committee), retired on completion of term at AGM in May
    • Martin Magee appointed in his place as non executive and Chairman of audit committee in August
  • Key managerial appointments in period:
    • Appointment of Anthony Gee as Group Financial Controller
    • Promotion of Tony Grodecki to Group Commercial Director

11

appendix iv contact details
The Stanley Gibbons Group plc, Registered Office

Martin Bralsford, Chairman

Mike Hall, Chief Executive

Donal Duff, Chief Operating Officer & Finance Director

18 Hill Street

St. Helier, Jersey, JE2 4UA

Tel: 01534 766711

Email: [email protected]

Email: [email protected]

Stanley Gibbons Limited

Richard Purkis, Corporate Services Director

399 StrandLondon, WC2R 0LXTel: 020 78368444

Email: [email protected]

Appendix IV - Contact details

16

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