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Rare stamp dealer Stanley Gibbons posted a full-year loss after the pandemic hit demand.
Pre-tax losses for the year through March amounted to £4.1 million, compared to a year-on-year loss of £2.5 million. Revenue fell 18% to £10.8 million.
Stanley Gibbons didn't declare any dividends.
'It was particularly disappointing that our extensively revamped shop and offices on the Strand were completed at the start of a series of lockdowns which resulted in a massive drop in footfall,' chairman Harry Wilson said.
'Our online presence has been strengthened over the year and unsurprisingly sales over the internet have continued to increase as a percentage of the total to 19%, more than double the figure for 2020.'
'We also made the decision to bring Baldwin's auctions back to the Strand and we will be holding our first in-house sales later this year.'
Wilson said that with lockdowns now ended, the company was looking forward to things 'getting back to some form of normality in the coming months'.