Channel Islands - A popular stamping ground for Stanley Gibbons
Capital letter: a Benham First Day of Issue Cover in July.
The firm has been bought by Stanley Gibbons
A growing number of companies listed on the London Stock Exchange or the Alternative Investment Market (AIM) are incorporated in the Channel Islands, where they enjoy lower company tax than elsewhere.
Stanley Gibbons is well known for its catalogues, which are “must haves” for philatelists worldwide. The parent group is Jersey-domiciled and listed on AIM, where the recent share price of 156p showed a yield of 3.4 per cent. Half-year profits were boosted to £1.6million by the London 2010 International Stamp fair, where it booked over £400,000 sales.
In recent years, Gibbons has promoted rare stamps as an alternative asset class. Last month Gibbons paid £410,000 for Benham, a long-established producer of special First Day of Issue Covers. Gibbons say that the deal anticipates the 2012 Olympics, where there should be a good demand for philatelic souvenirs. Benham was bought from another Jersey company, Flying Brands, which plans to concentrate on its flower and garden centre businesses.Flying Brands is also Jersey-registered, but its shares are listed on the main London Exchange. The recent price of 58p shows a yield of 2.7 per cent.
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