Interim Results for the six months ended 30 September and Notice of EGM. The Stanley Gibbons Group plc today announces its interim results for the six months ended 30 Septemberthe full text of which is set out below. The Company also announces that an Extraordinary General Meeting to consider the adoption of new Articles of Association will be held at Strand, London WC2R 0LX, United Kingdom on Wednesday, 1 February at 11 a. A new website was launched in November and we are already starting to see an improvement in online sales.

New auction software is also being reviewed and is likely to be implemented in early We have an ambitious marketing plan and are in the process of initiating a range of sales initiatives aimed at reducing the historical build-up of stock which had reached unsustainable levels.

The market for premium material remains strong, especially for British Commonwealth items, but lower quality stock is slower to sell and usually at reduced prices.

Securities and Exchange Commission the "SEC" and the Department of Justice "DOJ"concerning investigations into transactions that had occurred since 1 January involving a former client of Mallett Inc. The Company learned of this issue following the acquisition of Mallett plc in Octoberas it was not disclosed to the Company by the directors of Mallett plc during the due diligence process prior to the acquisition.

Both the SEC and DOJ are aware that Mallett's new owners were not involved in the events underlying the investigation, and there have been discussions regarding resolution of these matters.

The former client previously pleaded guilty to conspiracy to obstruct justice and money laundering, arising out of his dealings with a court-appointed receiver. On 19 Maythe DOJ filed criminal charges against Henry Neville, a New York based former director of Mallett plc, arising out of his dealings with the former client, the court-appointed receiver and the Government's investigation into his conduct. Neville has pleaded guilty to all criminal charges against him and awaits sentencing in March No criminal or civil charges have been filed against Mallett Inc.

The Group retains the services of US legal counsel to advise it in these matters. The Directors cannot predict with certainty whether Mallett Inc. The Group has the following bank facilities, all of which are secured and guaranteed by various members of the Group, which comprise: The figures for the six months ended 30 September have been restated in line with the adjustments made to the Group results for the year to 31 March The gross margin percentage for the six months ended 30 September was The exceptional items have been excluded as they are considered non-recurring in nature and may distort the underlying performance of the Group.

Earnings per share for the six months ended 30 September were 3. Both Investment sales and profits for the six months to 30 September increased above the equivalent restated figures for the previous year. We remain committed to continue to develop this division both by recruiting further members of the sales team and through our marketing spend.

The trend is largely consistent across all of our retail and auction business with the GB division being the most impacted but the underlying demand remains strong. This division continues through its reorganisation following the decision to outsource distribution of a substantial proportion of our catalogues, albums and accessory stock ranges.

The catalogues remain at the heart of the Stanley Gibbons brand and we are currently exploring the options of making them more digitally available to extend their appeal. The reduction in sales reflects some large one off sales last year and a reduction in the auction sales.

The underlying profitability of the Baldwin's brand remains encouraging, particularly in the retail element of the division.

Generally the coin market continues to remain buoyant. The cost savings that have been previously highlighted did not have a significant impact in the period, however these costs are being rigorously reviewed and reduced.

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The items of income and expenditure listed below are either non-recurring or unusual in size and therefore distort the view of the normal trading activities of the Group. They have therefore been separately identified to give more clarity on the underlying trend of the trading performance.

The latter resulting in the cash received initially being shown as a creditor and the sale only being recognised in later years, if the holders of the relevant plans choose to keep the collectible items once the plan and guarantees have expired. The qualified audit report on the Group consolidated financial statements for the year to 31 Marchmeans the Group is in technical default on both facilities outlined in the Chairman's Statement.

These revaluation of stock in trade have been shown as repayable within one year in the balance sheet as at 30 Septemberas they are technically payable on demand until the default is rectified, even though the bank has continued to support the Group and has not requested repayment. Additionally as at 31 March the facility was in default due to the net asset covenant breach at year end following the prior year adjustments.

Whilst this default was rectified with the bank subsequently amending the covenant level, the facility should have been shown as a current liability in the balance sheet as at 31 March and has now been restated. Administrative expenses before defined benefit pension service costs and exceptional operating costs. All profit and total comprehensive income is attributable to the owners of the parent; there are no non-controlling interests. The interim financial information in this report has been prepared using accounting policies consistent with IFRS as adopted by the European Union.

IFRS is subject to amendment and interpretation by the International Accounting Standards Board IASB and the IFRS Interpretations Committee and there is an ongoing process of review and endorsement by the European Commission.

The financial information has been prepared on the basis of IFRS that the Directors expect to be adopted by the European Union and applicable as at 31 March The Group's forecasts show that, except for the technical default highlighted above in the operating review, it will remain in compliance with its banking covenants for the foreseeable period and that it will have access to sufficient liquidity.

The forecasts are dependent upon liabilities and contingent liabilities, particularly in relation to redemption of investment plans, not materialising at a level greater than 798 profit in 15 minutes binary trading strategy and trading developing in line with the expectations of management.

The Directors acknowledge that these may be considered material uncertainties which could cast doubt on the Group's ability to continue as a going concern. Having regard to the matters above, and after making reasonable enquiries zayla forex system review taking account of uncertainties outlined above, the Directors earn money by receiving sms on mobile a reasonable trading forex loss terus that the Company and the Group have access to adequate resources to continue operations and to meet its liabilities, as and when they fall due, for the foreseeable future.

For that reason, they continue to adopt the going concern basis in the preparation of these interim financial statements. The accounting policies applied by the Group in this interim report are the same as those applied by the Group in the consolidated financial statements for the year ended 31 March Taxes on income in the interim periods are accrued using the revaluation of stock in trade rate that would be applicable to expected total annual earnings.

As outlined in the Operating Review the company has five main business segments, as shown below. This is based upon the Group's internal organisation and nse stock trading game structure and is the primary birkenstock shop newmarket in forex jamaicaobserver.com the Board of Directors is provided with financial information.

Destination is defined as the location of the customer. Origin is defined as the country of domicile of the Group company making the sale. All of the sales relate to external customers. The charge for taxation is based on the results for the period and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.

Deferred tax is recognised on a full provision basis in respect of all temporary differences which have originated, but not reversed at the balance sheet date. The calculation of basic earnings per ordinary share is based on the weighted average number of shares in issue during the period. For diluted earnings per share, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all dilutive potential ordinary shares.

The Group has only one category of dilutive ordinary shares: Dilutive potential ordinary shares: Employee share options No.

Even introduction of stock-in-trade as capital contribution into firm attracts S(3)

Decrease in trade and other payables less deferred consideration. Amounts recognised as distribution to equity holders in period: Copies of this statement are being sent to shareholders and can be viewed on the Company's website at www.

Further copies are available on request from: The Company Secretary, The Stanley Gibbons Group plc, 18 Hill Street, St Helier, Jersey JE2 4UA. London Stock Exchange plc is not responsible for and does not check content on this Website.

Website users are responsible for checking content. Terms and conditionsincluding restrictions on use and distribution apply. THE STANLEY GIBBONS GROUP PLC the "Company" or the "Group" Interim Results for the six months ended 30 September and Notice of EGM The Stanley Gibbons Group plc today announces its interim results for the six months ended 30 Septemberthe full text of which is set out below.

For further information, contact: As set out in the full year results which were released at the end of the period to which this interim statement relates, has been a very difficult year for the Group.

The extent of the problems facing the Group and the liquidity squeeze it faced were considerably greater than first envisaged at the beginning of the year. There have been many changes during including a complete change in the composition of the Board of Directors with all directors in situ in the corresponding period in having moved on.

This is one example of the need for radical and wholesale change that was required of which further details are set out below. However the Board believes we are finally approaching a turning point for the business where with operating cost savings now visibly feeding through to day-to-day trading and the change in management and culture making an impact, the core strengths of our staff and our brands are suggesting better times ahead.

Condensed statement of comprehensive income. Condensed statement of financial position. Condensed statement of changes in equity. Notes to the condensed financial statements. Go to market news section. The Stanley Gibbons Group plc Harry Wilson Andrew Cook. Pension service and share option charges. Impairment of intangible assets. Marketplace net costs and intangible assets write off. Legal costs in relation to SEC investigation.

Professional fees for corporate activity. Profit on disposal of tangible fixed assets. Impairment of tangible fixed assets.

Defined benefit pension service cost. Selling and distribution expenses. Exchange differences on translation of foreign operations. Actuarial losses recognised in the pension scheme. Revaluation of reference collection. Revaluation of financial assets for sale.

Reclassification of realised loss on disposal. Basic earnings per Ordinary Share.

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Diluted earnings per Ordinary Share. Property, plant and equipment. Revaluation of financial asset.

Reclassification on sale of financial asset. Profit for the financial year. Remeasurement of pensions scheme net of deferred tax. Cash outflow from operating activities. Net cash outflows from operating activities. Purchase of property, plant and equipment.

Purchase of intangible assets.

Net proceeds from issue of ordinary share capital. Dividends paid to company shareholders. Net decrease in cash and cash equivalents. Cash and cash equivalents at start of period. Cash and cash equivalents at end of period. Weighted average number of ordinary shares in issue No.

Pension service costs net of tax. Cost of share options net of tax. Amortisation of customer lists. Basic earnings per share - pence per share p. Diluted earnings per share - pence per share p. Adjusted earnings per share - pence per share p. Adjusted diluted earnings per share - pence per share p.

Loss on sale of financial asset. Impairment of tangible assets.