Crunch delivers rush for stamps - Business - Evening Standard
       

Crunch delivers rush for stamps

Stamp collecting has become one of the unlikely beneficiaries of the credit crunch as investors switch to alternative asset classes, world-famous London firm Stanley Gibbons said today.

It told shareholders at its annual meeting that internet orders for its stamps and autographs had risen 60% in the first three months of this year compared with the first quarter of 2007.

It had nearly four million visitors to its websites last year, and is launching a completely redesigned site shortly.

The group recently bought a £1 million British stamp collection and spent another £250,000 on a collection of stamps from Indian states.

Turnover in the first quarter is up by 10% while subscriptions to its email alert service are ahead by 12%.

Stanley Gibbons said: "The strength of our stockholding together with positive market conditions in collectables as an asset-class gives us confidence we will achieve sustainable growth in turnover and profits in 2008."

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