16 May 2019
Scholium Group plc – Trading update
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
The Directors of Scholium Group plc (the “Group”) provide an update on trading for the 12 months ended 31 March 2019.
The Group made further progress during the six months to 31 March 2019 in developing its three separate revenue streams- Shapero Rare Books, Scholium Trading and Mayfair Philatelics.
The Group anticipates, as a whole, a small profit for the six months to 31 March 2019, which is a modest improvement on the interim pre-tax loss of £56,000 for the six months to 30 September 2018. The Group therefore expects to have traded, similarly to the prior year, at approximately breakeven for the year ended 31 March 2019.
Both Scholium Trading and Mayfair Philatelics performed well; Scholium Trading had a good year, with profits above the previous year, and continues to pursue a number of interesting opportunities. Mayfair Philatelics had a successful second half of the year, achieving a profit for that period with three auctions held during the period, compared to one in the first half year.
Trading in Shapero Rare Books, however, reflected the difficult current retail environment and the overall outcome for the year is expected to be below the prior year.
The Directors expect to release the preliminary statement relating to the results for the year ended 31 March 2019 on Thursday 25 July 2019.
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
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Natural Selection, the inaugural exhibition of Shapero Modern, is presented in the newly refurbished gallery at Shapero Rare Books, a company with an internationally renowned expertise in rare natural history prints and other works on paper.
JACQUES BARRABAND, MAT COLLISHAW, JOHN GOULD, DAMIEN HIRST, WALTON FORD, ALEX KATZ, JEFF KOONS, YAYOI KUSAMA, MARIA SIBYLLA MERIAN, POLLY MORGAN, EDVARD MUNCH, MARC QUINN, PABLO PICASSO, ED RUSCHA, ALBERTUS SEBA, E A SEGUY, COLIN SELF, CINDY SHERMAN, SINKE & VAN TONGEREN, ANDY WARHOL, KRISTJANA S WILLIAMS
Tuesday 26 November – 18 December, 2014
Private view: 25 November, 6 – 8.30pm
Taxidermy demonstration: 26 November, 10am – 5pm
Shapero Modern is delighted to present as its inaugural exhibition, Natural Selection, a group show highlighting the importance of the study of nature from the Seventeenth Century to the present day. In particular, it examines how artists have sought portray the animal kingdom, and brings together more than twenty artists working in a variety of media, including engravings drawn from the Shapero archive.
The largest body of work comes from Andy Warhol (1928 – 1987) in the form of his celebrated Endangered Species series, of which five will be on display. Created in 1983, it comprises ten colour silkscreen prints portraying animals that were at risk of extinction, including the Siberian tiger, the San Francisco silverspot and the iconic bald headed eagle. Using brilliant colour characteristic of his signature style, and poignant expressions suggestive of the animal’s fate, the artist created a dynamic tension between art and reality.
Warhol’s fluorescent colours are in direct contrast to some of the older works on display, particularly the engravings of Albertus Seba (1665 – 1736), which depict fantastical creatures conjoined at the head. And while the celebrated pop artist embraced artificiality, two of the other featured artists, Jaap Sinke and Ferry van Tongeren, strive for the opposite in their artfully created taxidermic
works. It is telling that the atelier in which their creations are made is called ‘Darwin, Sinke and van Tongeren’ in homage to Charles Darwin this seminal tract, On the Origin of the Species, proposed the theory of natural selection, from which this show derives its title.
Sinke & van Tongeren have created a number of works especially for the exhibition, including Snake Heraldry, 2014, a disturbing collation of large, poisonous snakes, including a cobra, a black mamba, a python, an adder and an anaconda. Mesmerising and frightening in equal measure, it offers the viewer the opportunity to see the intrinsic beauty of these deadly reptiles from which they would normally recoil.
Another work, Specimen Jars, 2014, depicts a lounge of lizards crawling from a row of Seventeenth Century specimen jars, while Throne, 2014, presents a blue-eared pheasant, two lilac-breasted rollers and three rare European bee-eating birds arranged around a carved wooden throne. In addition, the artists have created a number of photographic works, Called “empty birds”, these are taken when the artists bathe the skins of birds after tanning them. During that time they begin to float, creating a graceful ‘water ballet’ effect.
A similarly unsettling aesthetic pervades Polly Morgan’s taxidermy. Her sculpture SUNNY SIDE UP, 2011, features a tiny quail chick standing in a puddle of its own blood in a shattered light bulb, its throat braced towards the severed glass, hinting at a final act of violence to free itself from an impossible situation.
Other works include Apes, 1908–9, an exquisite and extremely rare lithograph by Edvard Munch (1863 – 1944), and Jeff Koons’ playfully kitsch Puppy Vase, 1998, a sculpture of a pampered and grumpy looking ornamental dog that looks as if it has just been ejected from the lap of its well- heeled lady owner, which seems to question our relationship with animals – are they really our ‘friends’?
Tabitha Philpott-Kent, of Shapero Modern gallery, says: ‘The show brings together works that capture nature in all forms. Our relationship with the animal kingdom is largely unexamined – being the dominant species it is taken for granted. As with most things, it is artists who make us see it in another way.’
For more information, contact Mark Inglefield at Albany Arts Communications M: + 44 758 4199 500
About Shapero Modern:
Shapero Modern, which focuses on contemporary prints and works on paper, was launched under the guidance of Tabitha Philpott-Kent in the spring of 2014. Philpott-Kent brings ten years’ experience in this field, having worked in the print departments of Bonham’s and Sotheby’s, and more recently at the Marlborough Gallery. Shapero Modern will stage four to five exhibitions a year, each with a curatorial theme.
A fully illustrated catalogue featuring all the works will accompany the exhibition.
Jaap Sinke and Ferry van Tongeren will offer a unique chance to witness the art of taxidermy at Shapero Modern gallery in Mayfair this month The demonstration will take place throughout the day on November 26th, and members of the public are welcome to drop by anytime between 10am and 5pm.