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LONDON (Alliance News) - Scholium Group PLC Thursday said its Shapero Rare Books business performed well in the first half, while its Scholium Trading arm posted its first profit in the period and its South Kensington operations continued to grow.
The group, a holding company for fine art and collectibles businesses, said Shapero Rare Books saw sales of its own stock rise year-on-year in the half year to the end of September, with gross profit margins on owned stock increasing as it focused on higher-quality books.
It said the business has increased its stock substantially over the half year, as part of its strategy to focus on the key selling season in the second half.
Scholium Trading, which finances rare and collectible goods acquisitions, earned its first profit in the period and has completed two further profitable sales since the period end. The business experienced a slower-than-expected start to the half year, but said stock turn on trades completed has been ahead of expectations.
For its South Kensington operations, comprising South Kensington Books on Thurloe Street, South Kensington, London, the group said it saw stronger growth in sales, margins and profitability. It said retail sales were boosted by increased footfall and some high profile contract wins, in London and overseas. It also launched a private library arm over the half year, which it said is starting to gain traction.
Scholium shares were untraded on Thursday, quoted at 90.5 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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