Stamp and collectibles company final results

The London Stock Exchange AIM-listed company, which has an office in Hill Street, is due to issue final results for the year to 31 March this Friday, following a turbulent period of profit warnings and attempts to raise finance to repay and restructure upwards of £20m in debt.

Earlier this year the company auditors resigned, stating that ‘the risks and uncertainties’ associated with the audit were above a level they were prepared to accept and the company’s chairman, local businessman Martin Bralsford, is also standing down this month, with Harry Wilson appointed in his place.

Signs that all was not well were made clear in a trading update in October, which revealed that the group’s performance had failed to achieve ‘premature and over-optimistic expectations’ from acquisitions of broader-based collectibles and antiques concerns, notably Mallett plc and Noble Investments UK plc.

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