cooperboy
07 Oct 2015
Re: SP down 30%! I had forgotten Dikshit-they used to employ his brother Jack too but seems he just didnt care enough.....
casey5521
07 Oct 2015
Re: Future AgreedThere should be an interest in collectables nowadays in the far east, given the financial uncertainty there. SG should be doing much betterI have seen the SGI some down from 370p, not long ago, it seemed a safe bet - not nowGLAKC
Hardboy
07 Oct 2015
Re: SP down 30%! LK,Sometimes I suspect your investment decisions are not always based purely on logic.You've upset me now - I know I should remember whence Bart Simpson came - was he the Financie Director somewhere? And what about - was he the founder of Partygaming? - Anurag Dikshit - he probably regretted learning English.I suppose I am more enclined the other way - if someone has an unfortunate name (I remember meeting a Gordon Bennet early in my career) - they will probably be more determined to make their own history, so may be more focussed that a normal mortal. Be that as it may for now I am out of Stanley Gibbons and will watch from a safe distance for signs of recovery and improved management.
Hardboy
07 Oct 2015
Re: Future "Don't understand this business of weakness in Asian operations. At last year end only 15% of trade was done in Asia"True, but I think they were looking to Asia to be their growth driver. They were big steps opening offices in Singapore & Hong Kong in relatively recent times, so looking at where they were spending thier capital, you can understand the disappointment.
barnowl01
06 Oct 2015
Future Management have a lot to answer for. With all of the expertise in software around nowadays this new marketplace should not have had so many problems. At least they are being sorted out.Don't understand this business of weakness in Asian operations. At last year end only 15% of trade was done in Asia. Yes,a slow down will have hit profits to a degree but not that should lead to a share price of £1. Something odd about this !!Despite the problems to be sorted out the shares must be worth more than a pound.
Panofscouse
06 Oct 2015
Porkies... 'Yes we will achieve market forecasts for the full year ending 31 March 2016.' Seven trading days later: 'We are unlikely to achieve market forecasts for the full year.'Porky the pig couldn't have played it any better.
LK Hyman
06 Oct 2015
Re: SP down 30%! Hardboy,I'm not sure I could bring myself to invest in a company whose CFO is called Donal Duff.Which company was it who had a director called Bart Simpson?LKH on the flybridge it's the small details one must keep an eye o
II Editor
06 Oct 2015
NEW ARTICLE: Stanley Gibbons plunge continues "Unable to shift some of its pricey stamps and coins amid slowing Asian demand, LSE:SGI:Stanley Gibbons has warned it will miss profit forecasts this year. It isn't the first time the dealer has disappointed the City and even a step-up in business ..."[link]
Hardboy
06 Oct 2015
Re: SP down 30%! "The previous update was certainly "unwise"."I believe it was essential, but its content was obviously wrong & misleading. At that point they still suggested they could hit full year expectations; now they say they won't. Also their indications were if some of the high value sales could be executed before the end of the period things would not look so bad. They say they have got some of those sales through, but even so, sales will only be as good as last year without Malletts, and profits will be down.I still like the nicheness of the business & where it is going, but it looks like a long road to recovery. Better value elsewhere.
TX2
06 Oct 2015
Re: SP down 30%! The previous update was certainly "unwise".The market for up market collectables has generally softened.For example classic Ferraris are not selling as well,and more are coming on the market.Weakness in the market for expensive stamps has a "double whammy" in that sales & profits are down & capital value of stock could be impaired.SGI also may not be getting its offer in the cheaper collectors market attuned to the move to online dealing and perhaps collector to collector dealing.This may take time/cost to rectify.The mark down in price is certainly harsh however.
coolcharm
06 Oct 2015
SP down 30%! No surprise here, all the sign and writing were on the wall months ago. Divi cut was the red flag. Now heads must roll. Management have not been upfront with shareholders on the myriad challenges faced. Not only we now have a difficult trading environment ahead, but also a incompetent and untrustworthy management.
Hardboy
25 Sep 2015
An up day! After almost 3 weeks, of closing at a new low every day, finally there is a day when the share price rose.
Hardboy
24 Sep 2015
Re: Trading Update Bringing the trading update forward was undoubtedly necessary. However, its content, as suspected, has done nothing to steady the decline in the share price.They need to release some positive news. the time the full year results are released in June there won't be a share price to bolster!
pharmaspecialist
24 Sep 2015
Re: Trading Update I would agree with coolcharm's comments. Looking at some of the comments made by employees at SG's online development personnel in the US, it is clear that there is a major culture difference between the UK management and the US staff who have more of a "start-up" mentality, although this may not be a problem if managed properly. However, the reason I sold my shares (received when Noble was acquired) is because I fear there is the potential for an awful lot of bad publicity when holders of the company's stamp portfolios realise that stamps are not good investments and try to sell en masse (or as en masse as SG's rules will allow). If you check with any experienced stamp dealer, they will confirm that, with a few unpredictable exceptions, stamps do not provide a good return, particularly over the time horizon for which most people invest. Also stamp valuations produced to support the investment returns claimed by SG are based on SG's own valuations so it is a bit of a closed system. However, I think these are unregulated investments which is clearly good for SG.
coolcharm
23 Sep 2015
Re: Trading Update The update comes across as a profit warning to me in disguise. It confirms the slow down in the Far East, difficulties in completing some high value sales and of course the website debacle. Put it another way, the plunge in the share price is justified. The question is are they able to deliver a strong second half to make up for it? 22% increase in online revenue? How about profit? I'll be surprised if there is any. Look out for this, it will probably be reported as EBITDA in the earnings to make it look good. Charlie Munger would call this BS earning. So the question boils down to, given all the challenges, is £1.50 a fair value? I'm afraid so.
