BOWOOD
27 Aug 2017
Collecting I fear collecting belongs to a bygone generation - to my knowledge there a fewer new collectors to take the place of those who are passing on. Most young people have never heard of stamps and credit cards are taking the place of money. Historically SG was a household name, but not now. There is no future to buy into here I am afraid.
Peermade
31 Jul 2017
Re: RNS Chinese man who likes stamps, and has deep pockets, needed please! An act of faith is required. Just think, thanks to the previous Jerrais board of directors, you could never have bought, lock stock and two smoking offshore cigars, such a prestigious company for a song. Ok the song is a bit thin on royalties, but what price royal approval. Well ok, that was many decades back! Please do the decent thing and make an offer!
BOWOOD
14 Jul 2017
RNS Not good news
optimisticcynic
27 Jun 2017
Further signs of malaise I sold these a while ago,but remain a collector.Every year I buy the GB concise catalogue from SGI-it's a popular publication among GB collectors.Normally it is published around April or May.This year,publictaion was continually delayed-initially to June & now to July.It seems unclear what the problem is but could it be that Gibbons have cut their staff so drastically that those who remain are struggling to keep up with the work that needs done,or have they had problems paying printers & so have struggled to find anyone prepared to do the work for them?Either way it cannot bode well for the future as although most collectors don't buy stamps from them-they do buy their catalogues & this must represent a steady revenue stream for them.
Peermade
12 Jun 2017
Re: up for sale Reductions in value to more realistic levels will potentially trigger the guaranteed return clauses in the disastrous contracts SGI sold whilst controlled by the Jersey board of directors and that could spell disaster. Finding a buyer with deep pockets is the answer to some sort of survival.
Ecologist
12 Jun 2017
Re: up for sale The board have thrown in the towel.As a lifetime stamp collector and trader it is time for someone brave at SGI to take an ax to the stupid stamp "values" listed in their catalogues. These are raised year by year and are now, for 99.9% of listed items at unobtainable levels. I have never understood why. No investment item increases permanently.SG could sell a lot more middle value items if its catalogue prices were more reallistic but, in many cases, this would mean chopping up to 80% of printed values - their prices for these items would need to fall too.
Dingledangle
12 Jun 2017
up for sale Well, it looks like Disruptive have run through the numbers and decided not to make an offer for the time being. However SGI confirms the entire group is up for sale. "Against this backdrop, the Board had resolved to conduct a full strategic review to investigate the options open to them which, for the avoidance of doubt, could include a sale of some or all of the Group. "It is not a good sign in my view.
barnowl01
10 May 2017
state of play The strategic decisions of the previous Board caused undeniable damage to the Company,Acquisitions had been made after insufficient due diligence and then neglected with business integration effectively ceasing at the time of acquisition. A significant debtor has indicated that it may wish to pursue a counterclaim against a subsidiary companyThe Group had, over several years, been incorrectly recording and reporting sales and profits in relation to some of the investment plans.Overall Group trading remains subdued; in particular sales of rare philatelic collectibles to high net worth clients are slower than expected. Other than that all ok then !!!
numberbiter
07 Apr 2017
Re: SP 8-9p Dingle, I confirm by reading your original post that on 28/10/16 you did indeed suggest this share was worth between 8p and 9p. But this was hardly an amazing assessment as the actual price of this share on that day was 9.875p.
TX2
05 Apr 2017
Re: SP 8-9p Thank you for clarification share transfer.Happy to be proved wrong;but while it is possible that some divisions might manage a trading profit on normal sales I would have thought it would be a miracle if SGI makes a profit overall after provisions & overheads.I have doubts about the value ascribed to stock.
Dingledangle
05 Apr 2017
SP 8-9p I posted on 28.10.16 that the right price for the biz was around 8-9p. I expect to see in the next update stock levels have fallen but an increase in profit. If SG manage that, the sp will slowly climb from here. Hendersons have moved their whole team to Odier, so SGI is only a part of that. [link]
TX2
04 Apr 2017
Henderson Sale to Lombard Odier It would be interesting to know the price at which this 29% holding was sold & if the latter intend to take a more active role.
Peermade
26 Jan 2017
Re: Just who's accounts were the 2015 on... Ok can't dissagree with what you state however the directors are responsible for the figures in the accounts and to ensure that they meet the accounting standards. If they are unsure of compliance with them they can ask the auditors for advice. This will normally be declined by the auditors as they cannot be responsible for production and audit. Pedantic bunch aren't they!Clearly as the new auditors found non compliance the previous auditors should have qualified their audit report. Whatever we think there were still four qualified accountants on the board at the time, so what more can be said.
numberbiter
25 Jan 2017
Re: Just who's accounts were the 2015 ones Peer, As someone who has prepared published accounts for several years, I think I understand the basics of IFRS. So, like others, I will prepare the accounts and show the auditor in detail what I have done. However, it is the auditor's responsibility to advise whether or not I have complied fully with accounting standards and to tell me what I have to change, if appropriate. It is also the auditor's responsibility to ask me the appropriate questions.In some audit reports the auditors will state that for some things they were dependent upon the directors providing the correct information. If as a director I gave false information, then, of course, I would be liable. But if I have been honest and the Auditors sign off the accounts, they are alone liable.In this case, the previous auditors have been clearly negligent; they should have advised the company of the appropriate accounting standards.
barnowl01
31 Dec 2016
Daily Mail Report on results in today's paper.
