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Pin to quick picksScholium Group Share News (SCHO)

Share Price Information for Scholium Group (SCHO)

London Stock Exchange
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Share Price: 36.00
Bid: 32.00
Ask: 40.00
Change: 0.00 (0.00%)
Spread: 8.00 (25.00%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 36.00
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Scholium Shares Fall As Swings To Annual Loss On Increased Expenses

Thu, 25th Jul 2019 11:51

(Alliance News) - Scholium Group PLC on Thursday said a change in accounting standards and increased costs resulted in it swinging to loss in its recently-ended financial year.

The rare books retailer reported a pretax loss of GBP13,000 for the year to the end of March compared to a GBP1,000 profit reported a year prior, as administrative expenses increased to GBP2.1 million from GBP1.9 million.

Scholium explained that the adoption of IFRS 15 reduced prior year profit from GBP38,000 as a result of the deferral of sales into the current year previously recognised in the prior year accounts due to the different revenue recognition policies required.

Meanwhile, revenue rose by 8% to GBP7.1 million from GBP6.6 million year-on-year.

Looking ahead, Scholium said it has made a "satisfactory" start to the new financial year and remains committed to delivering improved shareholder value going forward.

Scholium shares were trading 5.8% lower on Thursday in London at 40.05 pence each.

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