Scholium warns of first-half loss as trading 'severely disrupted' by COVID-19

Thu, 28th May 2020

Rare books retailer Scholium has announced it expects to incur a loss in the first half of the year to 30 September 2020 as a result of the disruption from Covid-19 and 'only a small loss' for the six months to 31 March 2020. In a trading update for the 12 months ended 31 March 2020, the company said trading had been 'severely disrupted' due to the restrictions imposed as a result of Covid-19 during March, which is normally one of its busiest and most profitable months. It warned that not all of the anticipated first-half loss will be recouped in the second half of the year. The company said that while sales have continued on the internet, by telephone and by post, these were at 'considerably reduced levels' and the group is currently loss making. Scholium said it still expects to have traded profitably for the year as a whole to 31 March 2020, calling it 'a pleasing improvement compared to the small loss for the prior year'. Scholium said the performance of its three constituent businesses, Shapero Rare Books, Scholium Trading and Mayfair Philatelics improved when compared with the prior year to 31 March 2019. At 10:01am: (LON:SCHO) Scholium Group Plc share price was 0p at 28p Story provided by StockMarketWire.com

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