Stanley Gibbons sees boost from royal wedding and Olympics

Britain's Prince William and his fiancee Kate Middleton (L) pose for a photograph in St. James's Palace, central London in a November 16, 2010 file photo.

BANGALORE (Reuters) - Stamp-collecting and memorabilia firm Stanley Gibbons Group said it expected its recently-acquired Benham collectibles business to win a stamp of success from the upcoming royal wedding.

The company, which acquired Benham from multi-channel retailer Flying Brands in September 2010, said it expected sales at the Benham Group to grow at least 10 percent in 2011 as a result of the royal wedding.

"It could be as much as 40 percent depending on how successful it is, but it will be at least 10 percent uplift in sales for the year," Chief Executive Michael Hall told Reuters.

Benham contributed about 3 million pounds to Flying Brands' sales for the year ended January 1, 2010.

The royal wedding, to take place at London's Westminster Abbey on April 29, is seen boosting Britain's economy by nearly $1 billion (628 million pounds).

"We also have the Olympics next year to look forward to, which is a major event for Benham and the sixtieth anniversary of the accession of the Queen," Hall said.

The company, which reported sales of 23.4 million pounds in 2009, said it would also continue to look for acquisitions and target businesses worth up to 20 million pounds, including complementary collectibles firms.

"We'll be looking at strategic acquisitions that enable us to develop our (stamp) trading into other countries such as the United States, Japan, Russia," Hall said on Monday.

Stanley Gibbons, which trades in stamps from Great Britain and the British Commonwealth countries, entered the Chinese stamp market last year.

Earlier on Monday, the company, whose principal businesses include Fraser's Autographs and Collector Cafe, said it expected 2010 sales to beat market estimates and that trading in the first quarter of 2011 was boosted by strong order book.

The company's shares, which have risen about 30 percent over the past year, were up 2 percent at 175.5 pence at 1:14 p.m. on the London Stock Exchange.

(Reporting by Tresa Sherin Morera in Bangalore; Editing by Roshni Menon)