Scholium Group PLC Trading Update (9563E)
24 October 2018 - 5:00PM
UK Regulatory
TIDMSCHO
RNS Number : 9563E
Scholium Group PLC
24 October 2018
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 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.GBP100,000, 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 visit www.scholiumgroup.com or
contact:
Scholium Group plc
Jasper Allen, Chairman
Peter Floyd, Finance Director +44 (0)20 7493 0876
WH Ireland Ltd - Nominated Adviser
Chris Fielding
Jessica Cave +44 (020) 7220 1666
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END
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