Scholium sees H2 sales up 80% at lower margin

Antiques and rare books trader Scholium Group said second-half sales rose over 80%, at a lower margin, in what it described as a demonstrable improvement in trading for the six months.

It linked this to a strong performance by Scholium Trading, which had sold some major items.

"Sales of antiquarian books and works on paper stabilised in the second half and are currently on an improving trend," the company said.

"This improvement in trading is expected to result in approximately breakeven for the Group in the second half of the financial year."

Annualised cost savings of £320,000 before new initiatives, and these had been implemented.

"The benefit of these savings, both at group and subsidiary level, will be seen in the new financial year commencing 1 April 2017," said Scholium.

At 14:24 GMT, shares in AIM-quoted Scholium were flat at 37p each, having touched 38p this morning.