TX2
23 Sep 2015
Re: Inventory SGI has tangible assets,mainly stock,which has a book value which equates to a value of just under £1 per share.In addition it has brand names in particular Stanley Gibbons which should have a reasonable value.This should give some "comfort".I think Investors Chronicle a few years ago put forward the idea,and others have followed, that because SGI works on high margins,typically it probably marks up its stock by 100% plus,it has a lot of hidden profit in its stock because eventually the £50m of stock it holds will sell for well over £100m.This is flawed thinking because although it is true it will eventually get this GROSS margin on sale;the company has to work very hard,employ 250 people,spend lots of dosh on marketing,expensive premises etc etc to shift the stock and at the end of the day it is lucky to make 20% NET margins on sales and thats before the "exceptional" costs that in recent years seem to occur,reducing the actual net margins after all costs to nearer 10%.It cant just go out and cash in its stock at a premium.SGI is running two quite distinct businesses in the same field.A very up market stamp investment business that is selling big ticket items or collections to a tiny number of punters who might spend £1m plus;but you are in competition with other alternative investments Classic Ferraris,Villa in South of France,Old Masters,Young Mistresses(!)......and on the other side it is selling relatively modest price collectibles to a much wider market;but ebay and the internet generally has bought a lot of competition.It is easier for smaller dealers to compete and people to trade with each other.Business is hard work in all areas.SGI is an interesting business.I was a shareholder shortly after it came to market,did quite well albeit not at the price it reached recently and was a shareholder in Mallett the up market antique dealer for about 15 years until bought by SGI(Just about the only time Malletts made a decent profit and returned cash was when it sold a couple of its properties).I feel SGI is worth about 10 or 12 times its net earnings and would be interested in buying but at the moment it is difficult to see what its earnings potential is.Like to be proved wrong for the sake of existing holders but it does not presently look a screaming bargain at the present price let alone £3+.
Afrosia
23 Sep 2015
Inventory As I understand it the company has a vast amount of value in its inventory from the acquisitions that almost make this a perfectly safe long term investment. I haven't been following due to limited funds bit is anyone able to provide any better insight than me? Shouldn't be hard! 
Hardboy
23 Sep 2015
Trading Update Thank goodness - they've brought it forward, but I'm not sure it will reassure marketds. I wonder if they will release another one after the month end when they KNOW what sales have been completed in the period. The way I read this is the Interims arte going to be bad, but we have to trust management that the 2nd half will improve.
CASTLEFORD TIGER
22 Sep 2015
another 11p today looks like 100p floor from the charttiger
coolcharm
21 Sep 2015
Re: Goings on at SGI At the rate the share price is falling, it will be in penny stock territory by the time of earning release. The stock is down nearly 60% from its peak not too long ago. Shouldn't t the management release a statement to reassure investors that things are under control or they are not aware of any reasons for the significant drop? Apple did that a couple of weeks back when their shares dropped a mere 15%. Maybe a few insider buying would help?
barnowl01
20 Sep 2015
Goings on at SGI We now know that the new trading site has not been performing as it should have been for some time. Others have obviously known this for months!! Sales have surely been lost. Hence the terrible drop in share price. The promised trading statement in early October should reveal all. On the plus side..............if the management can get the site sorted out in reasonably quick time then there is no reason, as I see it, why profits cannot be made. With interest rates so low money in the bank isn't that appealing an option, although you may not agree with that view if you are still holding SGI shares.. Gibbons should be making money while the sun shines. They have only themselves to blame if they don't. The world is there to be traded with.
TX2
18 Sep 2015
Re: Update I think the "worry" would be coolcharm if SGI did NOT contact you and try and sell you something after you put your name on the mailing list!That's what the company is in business to do!Sell stuff & with the purchase of Mallett etc recently there's certainly a lot to sell.....
barnowl01
18 Sep 2015
Re: Update I would not take the mail as a sign of desperation etc. SGI send out invitations all of the time.......this is nothing new.
coolcharm
18 Sep 2015
Re: Update I am signed up to the SGI Investment mailing list. Received the following email from the CEO 2 days ago. Seriously, it smacks of desperation. Is he trying to offload some inventories before the close of half year? If it is not for the name Stanley Gibbons, I would have written this off as another scam. Something is not quite right here....>>>>>>>Urgent: Restricted Investment Offer You Won’t Want to Miss- Up to 6% minimum return for 1 year investment- Up to 50% minimum return for 5 year investmentIf you are looking for some certainty in an unpredictable economic climate, please read on…I’m Mike Hall, CEO of Stanley Gibbons and I want to offer both new investment clients and our existing investors something robust and compelling in these difficult times.If you’re looking at options both to protect and grow your wealth - just click here to find out more.Best regards,Mike HallCEO, Stanley Gibbons Group
stormdog
18 Sep 2015
Re: Update If it is true that the company secretary really thinks that the working week begins on a Tuesday (October 6th) then this does not bode at all well.Perhaps his normal working week begins on Tuesdays and thus I am being a little unfair!
Bobtheretiredbroker
15 Sep 2015
Re: Update Well done, Hardboy. Much appreciated.
Hardboy
15 Sep 2015
Re: Update Got a reply at 9:42 this morning, which I think is pretty good. Here's what he said: "Thank you for your email.I can assure you that we are very much aware of certain issues with the new website. We have prioritised these issues and have appointed a high level IT engineering team in our development hub who's entire focus at present is to put these right. As a result the feedback is improving and we will continue to focus on enhancing the site.Our half year ends on 30 September 15 and we will be releasing a trading update in week commencing 6 October 15.Best regards,"So about 3 weeks to wait for an update.
devonplay
15 Sep 2015
Re: Update I hope you get a satisfactory response Hardboy.Anyone have an views on the value of the stock, retail value.Last time I can remember seeing a value it was £150million? If that's still the case over 300 per share.I've bought several times over the last couple of years, the last at c290.At the moment, I'm not selling.DL
Hardboy
15 Sep 2015
Update I emailed the company secretary last night asking for an update given the horrendous share price performance.
coolcharm
14 Sep 2015
Re: SG Marketplace This could be the perfect storm for SGI. A slowing economy in the Far East, a disastrous website and a debt of £11.7million on its balance sheet. Judging from the feedback, there is still a long way to go to rectify the issues raised. This would mean more resources would be needed allocated. Not withstanding the drain on cash, there is a real risk the Stanley Gibbons brand could be damaged, as the website is now stanleygibbons.com. Back in June when they cut the dividend to 5p, it should have raised the alarm. I sense the management have not been upfront with shareholders.
