Flying Flowers, the mail order flowers group, has reappointed Paul Fraser to run the Stanley Gibbons stamps business he sold to the company last year.

After what the Jersey-based company described as a "disappointing" half-year for the division, Mr Fraser is taking on the day-to-day running of Stanley Gibbons.

Along with a number of key Gibbons mana-gers, Mr Fraser left the group after the acquisition, to be replaced by Flying Flowers managers.

Chairman Robert Norbury, who took up his post five months ago, said the disruption this caused had resulted in a number of management failures.

In particular, the new managers had not seized the huge potential of Internet sales, meaning rival suppliers took market share.

Mr Fraser, 44, is now concentrating on developing the company's IT systems and its Internet activities.

In the half year to July 2, Flying Flowers made a loss of £2 million against a £2.8 million taxable profit for the same time the previous year.

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