Scholium Group plc
(“Scholium” or “Group”)
The Directors are pleased to provide an update on trading during the six months ended on 30 September 2018, which has been consistent with their expectations.
The Group’s principal activities, being Shapero Rare Books and Scholium Trading, are expected to have performed broadly in line with their performance in the half year to 30 September 2017.
The Group has incurred a small loss in the first half of the current financial year, due to the trading loss in Mayfair Philatelics. Mayfair Philatelics, which commenced trading in November 2017, has now established an annual calendar of four auctions. However, only one of these auctions takes place in the first six months, whereas three occur in the second half of Scholium’s financial year. The majority of the costs of the second auction in early October 2018 are included in the results to 30 September 2018, with the revenues of c.£100,000, principally comprising commission, included in the Group’s results for the second half.
The Directors note that current expectations for the Group’s trading in the six months to 31 March 2019 should result in an improvement in the Group’s overall performance for the year to 31 March 2019 compared with the prior year.
The Directors anticipate that the results for the six months ended 30 September 2018 will be released on 29 November 2018.
Jasper Allen, Chairman of Scholium, noted:
“We are pleased that the Group has performed in line with the Board’s expectations in the first half and look forward in due course to delivering an improved Group performance compared to the year ended 31 March 2018. The October Mayfair Philatelics auction was a good start to the second half of the year.”
For further information please contact:
Scholium Group plc +44 (0)20 7493 0876
Jasper Allen, Chairman
Peter Floyd, Chief Financial Officer
WH Ireland Ltd – Nominated Adviser +44 (0)20 7220 1666