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(Alliance News) - Rare books dealer Scholium Group PLC said Friday it swung to an interim profit as revenue rose, with strong performances from its Shapero Rare Books and Mayfair Philatelics units.
For the six months ended September, the London-based firm swung to a GBP64,000 pretax profit from a GBP56,000 loss a year prior. This was after revenue rose 9.1% to GBP3.6 million from GBP3.3 million the year before.
"We are pleased that the group has traded profitably in this six month period," Chairman Jasper Allen said. "The turnaround in the results from the loss in the corresponding period last year is due to better results from both Shapero Rare Books and Mayfair Philatelics and is encouraging given the challenging retail environment."
"The group has continued to trade satisfactorily since 30 September 2019," Allen added. "The group intends to build on the recent improved results by exhibiting at more art fairs in the second half of the year."
Shares in Scholium were untraded at 37.05 pence in London on Friday.
By Ahren Lester; ahrenlester@alliancenews.com
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