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Interim Results - 2012 Investors Presentation August 2012

The Stanley Gibbons Group. Interim Results - 2012 Investors Presentation August 2012. Contents. Pages 1. Financial Highlights 3-4 Operating Highlights 5 Philatelic 6 Publishing 7 Other Collectibles 8

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Interim Results - 2012 Investors Presentation August 2012

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  1. The Stanley Gibbons Group Interim Results - 2012 Investors Presentation August 2012 1

  2. Contents Pages 1. Financial Highlights 3-4 • Operating Highlights 5 • Philatelic 6 • Publishing 7 • Other Collectibles 8 • Internet 9 • Outlook & Strategic Focus 10 • Management Team 11 Appendix I Income Statement 12 Appendix II Balance Sheet 13 Appendix III Cashflows 14-15 Appendix IV Contact Details 16 2

  3. Financial Highlights 3

  4. Financial Highlights • Sales broadly in line with prior period, reflecting a shift in sales mix to higher margin business • Online sales up 90% benefiting from the redevelopment of our core websites completed in the first half last year • Gross margin% up from 37.9% to 44.5% as a result of change in sales mix and acquisition of top quality stamp collections in period at substantial discounts to market value • Earnings per share up 11% to 6.53p • Interim dividend increased by 10% to 2.75p • Cash used in operating activities of £3.6m (2011: cash generated of £0.9m) reflecting short term investment in stockholding of £7.7m (2011: £0.9m) • Stock levels at 30 June 2012 stated at historic cost of £24.5m (30 June 2011: £15.6m), representing a short term working capital commitment in preparation for the expected launch of rare stamp fund 4

  5. Operating Highlights – Segmental Overview 5

  6. Philatelic • Change in sales mix in period with reduction of 17% in sales of investment products • Acquisition of top quality stamp collections and key philatelic rarities at substantial discounts to market value • New office in Hong Kong, opened in September last year, contributed sales of £1.3m and profits of £0.3m in first half • Prevailing strong demand for rare stamps from China with sales double that of the prior period at £1.4m • Auctions benefited from sale of “Arnhold Collection” with total realisation of £0.9m (129% of pre-sale estimate) 6

  7. Publishing • Improved profitability and focus following completion of restructuring and rationalisation exercise last year • Stronger publishing schedule in period and negotiation of lower print costs on key catalogue titles • Increase in online sales of catalogues, albums and accessory products of 132%, representing 33% of total sales (2011: 19%) • Evolving traditional print business to e-publishing including launch of mobile applications in period 7

  8. Other Collectibles • The Benham Group has contributed profits of £1m since we acquired the business in September 2010 for £1.5m (21 months) • Strong demand being experienced for commemorative products issued around the Queen’s Diamond Jubilee and the London Olympics 2012, particularly in China • Sales of rare coins and military medals doubled to £0.8m as we developed further internal expertise in these areas • Strategic review underway to improve profitability and return on capital from our quality stockholding of autographs and historical documents 8

  9. Internet • Successful launch of smart phone applications providing collectors worldwide with easier and greater access to our key services and inventory • Online sales up 90% benefiting from the redevelopment of our core websites completed in the first half last year • Project to digitalise and make available online our comprehensive catalogue data on schedule for completion by the end of the year • Strategic review of internet development plans completed in the period resulting in an increased investment in web development and support team to accelerate and maximise returns from online trading platform 9

  10. Outlook & Strategic Focus • Actively pursuing opportunities to accelerate and maximise the returns from our online strategy • Investment office in Singapore scheduled for opening later in the year • Development of investment sales opportunities in Brazil through newly appointed SG agent in Rio De Janeiro • In discussions with potential business partners in the US in respect of our online and auction developments • Fund raising for rare stamp fund with proposed launch in October • Improving sales and return on capital from our quality stockholding of autographs and historical documents 10

  11. Management Team • Board changes: • John Byfield appointed as Corporate Development Director in February 2012 (previously a non-executive director since April 2010) • Bob Henkhuzens (non executive and Chairman of audit committee), retired on completion of term at AGM in May • Martin Magee appointed in his place as non executive and Chairman of audit committee in August • Key managerial appointments in period: • Appointment of Anthony Gee as Group Financial Controller • Promotion of Tony Grodecki to Group Commercial Director 11

  12. Appendix I - Income Statement 12

  13. Appendix II – Balance Sheet 13

  14. Appendix III - Cashflows 14

  15. Appendix III - Cashflows 15

  16. The Stanley Gibbons Group plc, Registered Office Martin Bralsford, Chairman Mike Hall, Chief Executive Donal Duff, Chief Operating Officer & Finance Director 18 Hill Street St. Helier, Jersey, JE2 4UA Tel: 01534 766711 Email: mhall@stanleygibbons.com Email: dduff@stanleygibbons.com Stanley Gibbons Limited Richard Purkis, Corporate Services Director 399 StrandLondon, WC2R 0LXTel: 020 78368444 Email: rpurkis@stanleygibbons.com Appendix IV - Contact details 16

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