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Stanley Gibbons hit by increased loss but underscores growth in online sales
StockMarketWire.com
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Stamp collecting company Stanley Gibbons has reported a 26% fall in sales in the six months to the end of September.
In its half-year report, the company said sales totalled just under £5 million for the period, compared to £6.7 million for the same period in 2019.
However, online sales increased as a proportion of total sales, up from 12% to 22%.
The falling sales figure pushed Stanley Gibbons to an increased loss from continuing operations of £2.2 million, compared to a £0.7 million loss in the first half of the 2019-20 financial year.
At the end of September the company had just over £2.5 million in cash with a further £2m loan facility available.
At 1:39pm: (LON:SGI) Stanley Gibbons Group The Ltd share price was 0p at 3.25p
Story provided by StockMarketWire.com
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