Last checked at 4 Feb 2021 07:00
4 February 2021
Christie Group plc
("Christie Group" or the "Company")
Post close trading update
The Board of Directors of 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, has issued the following statement:
"The Board of Christie Group plc is pleased to announce that following a period of stronger trading and increased revenue it will (subject to forthcoming audit) have generated an operating profit, after restructuring costs, for the second half of the year ended 31st December 2020.
After successful reorganisation of two of its trading businesses, the Group has entered 2021 with the benefit of lower operating costs.
The Group's licensed stocktaking business, Venners, is currently supressed due to the governments' closure of the hospitality sector. Staff are on furlough pending the reopening of hospitality.
Our Agency & Advisory practice, Christie & Co, is currently experiencing an increase in demand from insolvency practitioners whilst business buyer demand remains very strong.
In view of the current lockdowns in the UK & Europe, we envisage our trading for 2021 will be weighted to the second half.
Our closing cash position is ahead of expectation and we remain well resourced."
Enquiries:
Christie Group plc
David Rugg 020 7227 0707
Chairman and Chief Executive
Daniel Prickett 020 7227 0700
Chief Operating Officer
Shore Capital
Antonio Bossi 020 7408 4090
Nominated Advisor and Broker
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional business services group with 40 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 valued 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.