05:21 ET<\/span>
\n<\/span><\/p>\nStamp collecting specialist Stanley Gibbons has reported a rise in profits thanks to higher sales to rich customers, many of whom live in China.<\/p>\n
Pre-tax profits for the full year 2010 came in at \u00a34.5m, up 8% from 2009. Revenue grew by 13% to \u00a326.4m.<\/p>\n
The firm said it expected China to become a key growth market in the coming years.<\/p>\n
It said it was also looking at opening new investment offices in Hong Kong and Switzerland.<\/p>\n
“The strong performance of the group in 2010 and a positive start to 2011 is a result of the enduring strength of the market of collectables,” said chairman Martin Bralsford.<\/p>\n
He said “persistent political and economic turmoil” meant the market was particularly attractive compared with the low rates of return currently offered by some other asset classes.<\/p>\n
Stamps had produced returns of 10% on average over the past 50 years, he said.<\/p>\n
Stanley Gibbons was founded in 1856 and the stamp business received a Royal warrant in 1914. <\/p>\n
It later established an auction house and expanded its business to include other rare collectors’ items. <\/p>\n<\/p><\/div>\n<\/p>\n
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