Last checked at 16 Jun 2010 11:15
16 June 2010
Christie Group plc
Results of Annual General Meeting ("AGM") and AGM Statement
Christie Group plc ('Christie' or the 'Group'), the leading provider of professional business services and stock & inventory systems & services to the leisure, retail and care markets, announces that at its 2010 AGM, which was held at 10.00 a.m. today, all resolutions put to shareholders were duly passed.
At today's AGM, Philip Gwyn, Chairman of Christie Group, gave the following trading update:
''I am pleased to say that Christie Group has returned to profit. The year so far, has seen transaction volumes in our professional business services division building steadily from the low point experienced twelve months ago, matched by a healthy increase in the number of businesses coming to the market. The residential property market remains an important source of seed equity for first time business buyers. The renewed availability of mortgage funds albeit on more restricted criteria is therefore an encouraging barometer for the business property sector. Demand for our valuation and consultancy services continues itself a sign of renewed wider market activity.
Our stock and inventory services businesses have continued to demonstrate a resilience to the wider economic climate. Although not immune to reduced activity in the market, the UK retail sector remains a strong source of income, and the reorganization we have undertaken in Europe leaves us with a basis to deliver improved results from the continent in the second half of the year.
It remains relatively early in the life of the new government to make assertions about the impact that its planned spending cuts may have on the economy in general, but there is little at this stage to suggest that the spending plans outlined to date will be to the detriment of demand for our sectors.
Our overall expectations for the year remain unchanged. We are in no doubt that the difficult decisions taken early on in the downturn have been key in giving us the foundation from which we believe we can take advantage of the fuller and more sustained recovery to come."
Enquiries:
David Rugg 020 7227 0707
Chief Executive
Christie Group plc
Russell Cook / Carl Holmes 020 7149 6000
Charles Stanley Securities
Nominated Adviser & Broker
Tom Cooper 0797 122 1972
Winningtons
Notes to Editors:
Christie Group plc (CTG.L), quoted on AIM, is a leading professional business services group with 31 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.
Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - 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.
For more information, please go to www.christiegroup.com.