(Alliance News) - Scholium Group PLC's revenue edged higher, despite Covid-19 hurting its trading in March, its busiest month.
Revenue in the year to March 31 climbed 2.3% to GBP7.3 million from GBP7.1 million. The rare books, arts and collectibles firm swung to a pretax profit of GBP25,000 from a GBP13,000 loss.
"The group incurred a small loss in the second half of the financial year due to the adverse impact of Covid-19 in March 2020, normally the group's busiest trading month, due to the cancellation of the trade fairs," Scholium explained.
"Trading conditions have inevitably been difficult since 31 March 2020, and the group's retail premises remained closed until mid-June. Since re-opening, footfall has been significantly lower than in the previous year. It is the board's present expectation that the group will incur a loss in the first half of the year to 30 September 2020 as a result of the disruption from Covid-19."
Shares in the company closed untraded at 35.00 pence each in London on Thursday.
By Eric Cunha; ericcunha@alliancenews.com
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Scholium Group (SCHO)