Last checked at 1 Apr 2020 07:00
1 April 2020
Christie Group plc("Christie Group" or the "Company")
Trading Update
The Board 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:
"Further to our trading update dated March 20th.
Our Stock & Inventory Systems & Services division's physical activities are now held in abeyance.
Pharmacy counts continue where we see it as supporting an essential sector.
The cloud based visitor attractions system remains fully operational, but understandably online traffic has slowed.
Our Professional & Financial Services division continues to provide a restricted volume of transactional and advisory services, where possible, through our online presence.
Overall, the majority of our UK staff have been placed upon grant aided furlough. Other government backed arrangements apply internationally. This is significant and welcome support where people costs are the substantive portion of our cost base.
We began the year trading normally but as a result of the Covid-19 induced restriction of trade our Group do not anticipate being profitable this year.
We believe that the Group's own resources, taken together with expected government backed support are sufficient to meet our cash requirements.
Our committed management and their core teams are doing their utmost to remain in a strong position to increase our levels of activity as conditions permit."
Enquiries:
Christie Group plc
David Rugg
Chairman and Chief Executive 020 7227 0722
Dan Prickett
Chief Operating Officer 020 7227 0700
Shore Capital
Antonio Bossi / Sarah Mather
Nominated Advisor and Broker 020 7408 4090
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional business services group with 43 offices across the UK, Europe and Canada, 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.
For more information, please go to www.christiegroup.com.