Scholium expects 'small' second half loss despite Covid-19 hit

Rare books retailer Scholium expects to report only a "smal|" second half loss despite trading being "severely disrupted" as the year ended 31 March came to a close.

Scholium said on Thursday that restrictions imposed internationally as a result of the unfolding onset of Covid-19 during March, normally one its "busiest and most profitable" months, had hurt both its bottom and top lines.

However, the AIM-listed group anticipates, as a whole, only a small loss for the six months to 31 March 2020, compared with the profit of £64,000 for the six months ended 30 September 2019.

The company also still anticipates to record a profitable year as a whole, a "pleasing improvement" compared to the small loss recorded a year earlier.

As far as 2021 was concerned, Scholium expected to incur a loss in the first half of the year as a result of the disruption from Covid-19.

While all of the first half losses were not pegged to be recouped in the second half of the year, the continuing sales to date in present circumstances provided the firm with "some encouragement".

Scholium entered the lockdown period in "a reasonably strong position" with over £8m of stock and over £280,000 of cash, with no borrowings.

As of 0900 BST, Scholium shares were up 14.29% at 32p.