STOCK WATCH

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Group has announced plans to launch a stamp auctioneering and retailing business. The company already trades rare books and fine art.

Its stamp subsidiary will be named Mayfair Philatelics and starts trading on November 1.

It comes as the firm said an improvement in trading meant it expected to return to profit in the six months to September 30, after a pre-tax loss of £240,000 in the same period last year. Shares leapt 4.8pc, or 2.5p, to 55p.