Scholium (SCHO) is uncertain over whether its full year results will meet expectations after sales were hit by uncertainty ahead of the Brexit vote.

Scholium, a holding company for a group of business involved in the retailing of rare books, anticipates a small loss in the first half of the year as sales were materially lower than 2015.

Shares in the firm have dropped 5.2% to 36p.

Scholium

However, Scholium is optimistic of a recovery in demand due to renewed activity in the market from overseas-based buyers and is benefitting from a weaker pound, enabling it to place stock in auctions abroad at attractive prices.

In the second half of the year, the trading division will auction off higher value items after performing slightly below expectations in the first half.

Chairman Jasper Allen says: ‘We continue to make up ground lost in May and June and are focusing our efforts in maximising our performance over the whole year.’

As of 30 September, there is net cash of £1.1m on the balance sheet.


Issue Date: 13 Oct 2016