6 million, in the first six months of the year to 30 June.
The record result has come from strong demand for quality rare stamps and autographs outstripping supply, increased internet sales – up by 18% – and above-average performance from the auctions, specialist stamps and rare autographs departments.
The AIM-listed company, which this year celebrates its 150th anniversary, has just moved its investment operation to Guernsey, where it is opening a shop.
Chairman Paul Fraser – who also chairs Jersey firm Flying Brands – commented: ‘Trading during July has been particularly strong, with consistent high levels of demand.
We recognise that in order to continue to achieve the high levels of growth experienced over the past three years we will need to fully implement a more aggressive buying strategy which enables us to follow market prices more closely and to ensure that we are the biggest international buyer of rare stamps and autographs.
‘The relocation of our investment activities to Guernsey at the end of July gives us the opportunity to develop our existing business model, increasing our worldwide supply chain and stepping up to the next level.