The listed stamp collector and auctioneer, Mowbray Collectables, says it has sold its auction business in Australia for a satisfactory price.
It sold the division to its manager, Danny Jurd, who has worked for the company for 13 years.
The business will continue to use the Mobray name for a year.
Meanwhile, the company has reported a loss of $166,000 in the year to March, an improvement on the unaudited loss of $229,000 announced earlier in the month.
The company lost $238,000 the previous year.
