Share Name Share Symbol Market Type Share ISIN Share Description
Scholium Group LSE:SCHO London Ordinary Share GB00BJYS2173 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 55.00p 53.00p 57.00p 55.00p 54.00p 55.00p 0 14:00:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Forestry & Paper 6.1 -0.2 -1.7 - 7.48

Scholium Group PLC Trading update and establishment of stamp business

23/10/2017 7:00am

UK Regulatory (RNS & others)


Scholium Group (LSE:SCHO)
Historical Stock Chart

2 Months : From Oct 2017 to Dec 2017

Click Here for more Scholium Group Charts.

TIDMSCHO

RNS Number : 2562U

Scholium Group PLC

23 October 2017

Scholium Group plc ("Scholium" or "Group")

Trading update and establishment of a stamp auctioneering and retailing business

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

The Directors of Scholium are pleased to provide an update on trading in the first half of its year ending 31 March 2018 and are happy to announce the establishment of a stamp auctioneering and retailing business.

Trading update

Sales in the six months ended 30 September 2017 have continued to follow the improved trend experienced in the second half of the previous financial year ended 31 March 2017.

Results for the first half, which has traditionally been quieter than the second half, are therefore expected to show a return to modest profitability, compared with a loss before taxation of c.GBP240,000 in the comparable period last year.

The Directors anticipate that the results for the six months ended 30 September 2017 will be released on 28 November 2017.

Mayfair Philatelics Limited ( "Mayfair" )

The Directors are also pleased to announce the incorporation of a new wholly owned subsidiary, Mayfair Philatelics Limited, to diversify the Group's activities into the auctioneering and retailing of British, Commonwealth and World stamps.

They are further pleased to announce that the Group has recruited Messrs Tim Francis and Rick Warren as executive directors of Mayfair. Messrs Francis and Warren, who have in aggregate over 80 years of philatelic dealing and auctioneering experience, founded Apex Philatelics Limited, a stamp auctioneering and retailing business, which was acquired by Noble Investments (UK) Plc and thereafter by Stanley Gibbons Group Plc. The Directors expect to recruit further philatelists to join the team in due course.

The Group has also acquired a significant portfolio of stamps, which the Directors expect to be sufficient to cover Mayfair's auctioneering and dealing requirements for the foreseeable future.

Mayfair is expected to commence trading on 1 November 2017.

Jasper Allen, Chairman of Scholium, stated: "We are delighted to announce to shareholders that we have negotiated not only the recruitment into the Group of an experienced and specialist philatelist team, but also the acquisition of a highly desirable and significant portfolio of stamps on which to develop the business. We see great benefit in the establishment of a new revenue stream which diversifies the business but in a related field.

"We are also delighted to report that the upturn in trading reported in the second half last year has continued into this financial year"

For further information please visit www.scholiumgroup.com or contact:

 
            Scholium Group plc 
             Jasper Allen, Chairman 
             Peter Floyd, Finance Director                 +44 (0)20 7493 0876 
            WH Ireland Ltd - Nominated 
             Adviser 
             Chris Fielding 
             Jessica Cave                                  +44 (0)20 7220 1666 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCPGGUGUUPMGQU

(END) Dow Jones Newswires

October 23, 2017 02:00 ET (06:00 GMT)

1 Year Scholium Group Chart

1 Year Scholium Group Chart

1 Month Scholium Group Chart

1 Month Scholium Group Chart
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:33 V:gb D:20171217 04:21:49