Interim results 2012 investors presentation august 2012
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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

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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 IIncome Statement 12

    Appendix IIBalance Sheet 13

    Appendix IIICashflows14-15

    Appendix IVContact Details 16

2


Financial highlights

Financial Highlights

3


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


Operating highlights segmental overview

Operating Highlights – Segmental Overview

5


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 i income statement

Appendix I - Income Statement

12


Appendix ii balance sheet

Appendix II – Balance Sheet

13


Appendix iii cashflows

Appendix III - Cashflows

14


Appendix iii cashflows1

Appendix III - Cashflows

15


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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