25 May 2012

Noble to smash forecasts

09/01/2012 Miles Nolan

As foreshadowed here last week, rare coins to stamps dealer Noble Investments (NBL) has confirmed that following a successful New York auction it will beat market expectations.

The AIM counter has confirmed that, including buyers' premium, it notched up total sales of $31 million (£20 million), which includes approximately $25 million for the rare Prospero Collection of ancient Greek coins. Noble now reckons that interim results to 29 February will be ahead of forecasts, as will full-year figures to the end of August.

It has also confirmed that 2012/13 should be off to a flyer, with the go-ahead to run auctions of two significant coin collections. The first is the multimillion-pound Bentley collection of 1,200 coins, with the second comprising more than 4,000 Islamic coins, also valued in the millions of pounds.

WH Ireland is about to sharpen its pencil with a broker upgrade, but current numbers are for 2012 pre-tax profits of £3.3 million and EPS of 17.2p. The shares have jumped 8.5p to 184.5p, which is comfortably ahead of our buy recommendation at 173p in November. Still a buy.

Tags: Ahead of forecast, AIM market, Collectors coins, WH Ireland

Sector: Financial Services

Companies: Noble Investments

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