Last checked at 28 Oct 2019 07:00
Scholium Group plc
("Scholium" or "Group")
Trading update
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
The Directors are pleased to provide an update on trading for the six month period ended 30 September 2019.
The Group has made a small profit during the period, which represents a considerable improvement compared with the loss incurred during the six months ended 30 September 2018.
The Group's trading has continued the progress made in the second half of the financial year ended 31 March 2019. Mayfair Philatelics is now operating a fuller auction programme, and traded at breakeven for the six months to 30 September 2019 compared with a loss of £79k in the corresponding prior period. Shapero Rare Books has also continued to improve its profitability compared with both of the six month periods previously. Scholium Trading has made a reduced contribution in this first half, due to a lower opening stock which was the result of a strong performance in the second half of the last financial year.
The Directors anticipate that the results for the six months ended 30 September 2019 will be released on 29 November 2019.
Jasper Allen, Chairman of Scholium, noted:
"We are pleased that the Group has traded profitably. The improvement in the results from both Mayfair Philatelics and Shapero Rare Books is encouraging given the challenging retail environment."
For further information please visit www.scholiumgroup.com or contact:
Scholium Group plc
Jasper Allen, Chairman +44 (0)20 7493 0876
Peter Floyd, Finance Director
WH Ireland Ltd - Nominated Adviser
Chris Fielding +44 (020) 7220 1666
Lydia Zychowska