More investment in a new online trading system hit profits at stamp collecting group Stanley Gibbons.
Gibbons said adjusted pre-tax profits in the six months to December 31st came in at £3.8m, down on the £4.1m achieved in 2012. Adjusted pre-tax profit in the 12 months to December 31st was £5.6m against £6m a year ago.
The group said testing of the core features of its new online platform will begin next month with a view to launching it in the second half of 2014.
Gibbons said trading profits rose 9% to £4.6m for the six months to December 31st 2013 and lifted 9% to £6.9m in the 12 months to December 31st.
The group "substantially strengthened" its auction services with the acquisitions of Noble Investments last year, plus British Commonwealth King George VI stamp dealer Murray Payne.
Chairman Martin Bralsford said: "The group's strong balance sheet position including net cash of £17.3m and a high quality stockholding of rare stamps and collectibles stated at a historic cost of £30.6m provides a substantial capital base from which to invest in further growth opportunities."
Gibbons increased the total dividend for the year to December 31st by 8% to 7p.
Berkeley Mineral Resources (BMR), which extracts metals from tailings at former mines, said that losses widened in the first half, causing its share price to sink sharply on Friday.
The company said it "made further progress towards its strategic goal of becoming a processor and supplier of key base metals" in the first half, but is yet to generate any revenues.
Losses before taxes at constant currency were £0.9m in the six months to December 31st, down from £0.6m the year before, after spending increased due to the ramping up of production facilities.
BMR previously centred its operations at the Kabwe zinc and lead mine in Zambia, which was found to have high grades of minerals in tailings after mining ended in 1994. However, the company has now entered into the much larger copper industry in the country.
During the period, the firm secured sources of material, advancing beneficiation studies and processing plans in readiness to start production. The company is now waiting on permission from the Zambian Environmental Management Agency (ZEMA) before starting lead and zinc processing and copper production.
ZEMA has set a public meeting for April 11th.
The stock was down nearly 15% at 1.26p by 13:22 and has now fallen over 45% since the start of 2014.