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AGM Statement

28 Sep 2020 07:00

RNS Number : 2080A
Christie Group PLC
28 September 2020
 

28 September 2020

Christie Group plc("Christie Group" or the "Company")

AGM Statement

Christie Group plc (CTG.L), the leading provider of Professional & Financial Services and Stock & Inventory Systems & Services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, announces that at today's Annual General Meeting, the Chairman and Chief Executive, David Rugg, will make following statement:

"Dear Shareholders,

We enjoyed a successful 2019. Following a good start to the current year, we were affected by the onset of the Covid-19 pandemic and subsequent lockdown.

Across the Group, in aggregate, approximately 50% of our expected revenue was lost from our first half. This represents an entire quarter's income.

Your management moved expeditiously to reduce costs, to avail ourselves of furlough grants and similar international governments' assistance and take on a CLBILS loan of £6 million. We are now reviewing the Chancellor's recently announced Job Support Scheme to identify whether that can provide further assistance.

As soon as permitted we reopened our closed operations and have reintroduced staff progressively, as demand for our services increased.

We have taken the opportunity, where desired, to reorganise our trading businesses. In each case seeking to maximise our on-line presence.

 

Professional & Financial Services

In Christie & Co we instigated changes to manage the whole business on specialist Sector lines, having previously been managed on a geographical basis. Regional management contributes directly to revenue generation in these individual's specialist spheres. Support services are provided centrally for our UK and international operations.

 

Stock & Inventory Systems & Services

Our Retail stocktaking business has benefitted from exiting larger low margin accounts, enabling it to operate from a reduced central support and focus on higher margin work.

Its vehicle fleet has been reshaped with a reduced provision of cars. Minibuses facilitate our teams to group in 'work bubbles', which has heightened espirit de corps. Initial results and productivity gains are encouraging and will need to be maintained through the annual cycle.

With the exception of a limited amount of small bad debts in the retail and licensed retail sectors,

themselves the result of business insolvencies, our credit control has proved strong. I am particularly appreciative of some significant Clients which opted to settle their accounts with us early, thus, demonstrating their support for our businesses and the valued services we provide.

 

Summary

Our tremendous teams of people have coped remarkably well in changed and challenging times.

Their income has reduced, and we appreciate their personal sacrifice. We could not have asked for more. I thank them both on your behalf and personally.

I also thank Shareholders for their messages of encouragement and in some instances the practical support received.

During October we will be publishing our Interim Report and Accounts to 30 June. These will contain a further trading update. It is early days, but we are on track with rebuilding your businesses in line with our expectations.

Stay well!"

 

Enquiries:

 

Christie Group plc

David Rugg 01908 920594

Chairman and Chief Executive

 

Dan Prickett 01908 920537

Chief Operating Officer

 

Shore Capital:

Antonio Bossi 020 7408 4090

Nominated Adviser & Broker

 

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 42 offices across the UK and Europe, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors. 

Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long-established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

For more information, please go to www.christiegroup.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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AGMUVONRRBUKUAR
Date   Source Headline
10th Apr 20247:00 amRNSDate of Preliminary Statement of Results
15th Feb 20247:00 amRNSTrading Statement
5th Feb 20249:00 amRNSChristie & Co facilitates charitable trust merger
22nd Jan 20247:00 amRNSChristie & Co broker sale of London day nursery
8th Dec 20237:00 amRNSTrading Statement
30th Nov 20237:00 amRNSChristie & Co Care wins at the LaingBuisson Awards
30th Nov 20237:00 amRNSChristie & Co 'team of the year' at dental awards
27th Oct 20237:00 amRNSChristie & Co instructed to market caravan parks
18th Oct 20237:00 amRNSChristie & Co publish key market insights
13th Oct 20237:00 amRNSTrading Statement
25th Sep 20233:43 pmRNSLandmark Dental partnership for Christie & Co
18th Sep 20237:00 amRNSInterim Results
7th Aug 20237:00 amRNSTrading Update
11th Jul 20237:00 amRNSGroup Chairman and Chief Executive Succession
14th Jun 202311:31 amRNSResult of AGM
14th Jun 20237:00 amRNSAGM Statement
19th May 20239:00 amRNSPosting of Annual Report and Notice of AGM
18th May 20237:00 amRNSTrading Statement
24th Apr 20237:00 amRNSFinal Results
10th Jan 20231:34 pmRNSDirector/PDMR Shareholding
9th Jan 20234:35 pmRNSDirector/PDMR Shareholding
11th Nov 20223:19 pmRNSChange of Auditor
28th Sep 20225:30 pmRNSDirector/PDMR Shareholding
26th Sep 20227:00 amRNSInterim Results
13th Jul 20222:18 pmRNSDirector/PDMR Shareholding
28th Jun 20229:02 amRNSChristie & Co instructed to sell 111 homes
17th Jun 20227:00 amRNSChristie & Co instructed to sell UK attraction
15th Jun 202211:36 amRNSResult of AGM
15th Jun 202210:00 amRNSAGM Statement
20th May 20229:00 amRNS2021 Annual Report and AGM Notice
18th May 20225:39 pmRNSDirector/PDMR Shareholding
28th Apr 20223:01 pmRNSDirector/PDMR Shareholding
25th Apr 20227:00 amRNSFinal Results
19th Jan 20227:00 amRNSTrading Update
17th Jan 20223:29 pmRNSVenners launches new brand and website
13th Dec 20217:00 amRNSTrading Update
20th Sep 20217:00 amRNSInterim Results for six months ended 30 June 2021
16th Jun 202112:40 pmRNSTrading Update Presentation
16th Jun 202112:25 pmRNSResult of AGM
16th Jun 20217:00 amRNSAGM Statement
21st May 20219:05 amRNS2020 Annual Report and AGM Notice
6th May 20217:00 amRNSDirectorate Change
22nd Apr 20212:02 pmRNSDirector/PDMR Shareholding
19th Apr 20217:00 amRNSDirectorate Change
19th Apr 20217:00 amRNSFinal Results
31st Mar 20214:48 pmRNSChristie sells the most hotels in Europe in 2020
24th Mar 20217:00 amRNSPinders launches new website
16th Mar 20213:46 pmRNSDirector/PDMR Shareholding
4th Feb 20217:00 amRNSPost close trading update
16th Dec 20202:27 pmRNSNew MD for Orridge UK Retail and Pharmacy ops

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