Scholium Group sees 'considerable improvement' in first half

Scholium Group updated the market on its trading for the six months ended 30 September on Monday, reporting that it made a “small profit” during the period, representing a “considerable improvement” compared to the loss it incurred in the same period in 2018.

The AIM-traded company said its trading had continued the progress it made in the second half of the 2019 financial year, with Mayfair Philatelics now operating a “fuller auction programme”, trading at break even for the six month period.

That compared to a loss of £79,000 in the corresponding prior period.

Shapero Rare Books also continued to improve its profitability compared with both of the six month periods previously.

Scholium Trading made a reduced contribution in the first half, which the board said was due to a lower opening stock - the result of a “strong performance” in the second half of the last financial year.

“We are pleased that the group has traded profitably,” said chairman Jasper Allen.

“The improvement in the results from both Mayfair Philatelics and Shapero Rare Books is encouraging given the challenging retail environment.”

The board said it expected that the results for the six months ended 30 September would be released on 29 November.