Expanding Gibbons looks to China

Collectibles firm Stanley Gibbons yesterday 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 June 30 after sales rose 24 per cent to 11.9m.

Gibbons is hopeful that further growth will come from the development of its website and entrance into China, where it has just secured a "top quality" collection of investment grade stamps.

It expects to invoice 1m of orders for Chinese stamps in the third quarter and is working with trading partners to improve its market position.

Chairman Martin Bralsford said: "Further trips to the Far East are planned for September and we intend to develop opportunities there on a number of fronts to exploit the size and strength of the market."