Scholium Group PLC Trading Update (1055Y)
13 May 2016 - 4:00PM
UK Regulatory
TIDMSCHO
RNS Number : 1055Y
Scholium Group PLC
13 May 2016
Scholium Group plc
("Scholium" or the "Company")
Trading Update
13 May 2016
The Directors of Scholium are pleased to report encouraging
trading in the year ended 31 March 2016. Revenue is materially
ahead of the prior year, as a result of which the pre-tax result is
expected to be broadly break even. This growth has been achieved
without significant use of Group cash resources.
Shapero Rare Books continues to trade positively and has grown
over the period. Its Modern & Contemporary department provides
a valuable revenue stream and has raised the exposure of the
business.
Scholium Trading has had a good year working alongside a number
of dealers and supporting their trade in higher value items. The
return on capital employed in this business has validated our
investment in it.
The Group's balance sheet remains strong, with net assets at the
year-end in excess of GBP10 million (73.5p per share), including
cash of approximately GBP1.3 million (9.5p per share).
The Company anticipates releasing a preliminary statement in
respect of its full year results in early July 2016.
Jasper Allen, Chairman of Scholium, commented, "The second half
of the year continued the welcome trend that started in the first
half of the year - the market in our core areas of expertise has
stabilised. We look forward to the new year with a strong balance
sheet in a market which, we believe, will provide opportunities for
growth either organically or by the acquisition of teams."
Scholium Group plc
Jasper Allen, Chairman
Simon Southwood, Chief Financial +44 (0)20 7493
Officer 0876
WH Ireland Ltd - Nominated
Adviser +44 (0)20 7220
Chris Fielding/Mark Leonard 1666
Notes to Editors
Scholium is engaged in the business of art. Its primary
operating subsidiary is Shapero Rare Books. Shapero Rare Books is
one of the leading UK and international dealers in rare and
antiquarian books and works on paper. It trades through premises in
Mayfair where the bulk of its stock is on display to the general
public. With particular expertise in the great Travel, Natural
History and Russian genres, Shapero Rare Books is welcomed at
prestigious international art fairs where it shows alongside the
most important international dealers in rare art and collectible
goods.
The Group, via its Scholium Trading subsidiary, is also active
in the industry buying art and collectibles alongside other dealers
who have specific market knowledge, be it books outside its core
areas of expertise, sculpture, old master paintings arms, armour
etc.
This information is provided by RNS
The company news service from the London Stock Exchange
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