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(Alliance News) - Rare books and fine art retailer Scholium Group PLC on Monday predicted a swing to a small profit for the first half of financial 2020 due to improved performance from philatelics and rare books businesses.
The company's trading in the six months to September 30 has continued the progress made in the second half of year ended March 31, Scholium said.
In the first half of financial 2019, the London-based company recorded a pretax loss of GBP56,000.
The company's Mayfair Philatelics business traded at breakeven in the first half as opposed to a GBP79,000 loss in the corresponding prior period. Shapero Rare Books business also improved its profitability in the period.
Scholium Trading unit, however, made a reduced contribution in this first half due to a lower opening stock. The business buys and sells rare and collectible goods.
Scholium shares were untraded at 38.00 pence each in London on Monday morning. The company is slated to release its first half results on November 29.
By Tapan Panchal; tapanpanchal@alliancenews.com
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