News blog
Scholium Group
- BY: Andrew Hore |
- POSTED: 16/10/2014 |
Rare books dealer Scholium Group has reaffirmed that the outcome of trading for the financial year is dependent on the second half.
Stocks of books have been built up in the first half just as Scholium said that they would be in its AGM statement
On 28 March, a placing at 100p a share raised £8m, before £1.01m of costs, and net cash was £7m at the end of March 2014. Group stocks were £4.67m at the end of March 2014 and at the end of September, subsidiary Shapero Rare Books had stocks of £6.2m on its own.
Shapero did not benefit from the one-off commissions in this half year but sold more of its own stock. Scholium Trading made its first ever profit during the first half and activity levels should increase. The South Kensington operations improved their profitability thanks to hotel contract wins.
At 90p a share, down 2p, Scholium is valued at £12.2m.
The interim figures will be released in late November.
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