27th Nov 2020 18:28
Scholium Group PLC - rare books, arts and collectibles firm - Swings to GBP158,000 pretax loss for the six months ended September 30 from a GBP64,000 profit the year before as revenue drops to GBP3.1 million from GBP3.6 million. Company notes that: "Trading was adversely affected by the onset of the restrictions imposed for Covid-19 from March 2020, including the closure of the group's retail premises, and each of the group's trading entities performed worse than the corresponding period last year."
Chair Jasper Allen: "In October the group relocated its premises to a first floor bookshop at 106 New Bond Street, and a separate new gallery for modern prints nearby at 43 Maddox Street. These moves will contribute to an immediate reduction in the group's cost base. We remain focussed on maximising sales through online and other channels still available to us, and reducing costs where possible."
Current stock price: 35.00 pence
Year-to-date change: down 15%
By Anna Farley; [email protected]
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