15 February 2024
Christie Group
plc
("Christie Group" or the "Company")
Full Year Trading
Update
The Board of Christie Group plc
(CTG.L) advises that, as anticipated, it will report an improved
second half trading performance in 2023 compared to the first-half.
The full year result, before exceptional costs, is expected to be
in line with market expectations which were revised in early
December.
Full Year
Performance
Revenues in the Company's
Professional and Financial Services ("PFS") division returned to
more encouraging levels following the end of the summer period,
notwithstanding the subsequent and frustrating delay of some deals
into 2024 which were otherwise expected to exchange in the latter
part of 2023.
Revenues in the Group's Stock &
Inventory Systems & Services ("SISS") division in H2 were lower
than H1, as traditional seasonal trading patterns in our UK retail
stocktaking operation took effect, exacerbated by the loss of
Wilkos as a client when it fell into administration. This partially
impinged upon the improved half-on-half performance otherwise
delivered in the PFS division, the continued ongoing progress in
the Group's hospitality and pharmacy stocktaking operations, and a
positive year for new business wins in its software visitor
attraction business.
Overall, the improved PFS revenues
in late H2 have contributed to the Company expecting to report a
second-half operating profit before exceptional items. As
previously reported, the Group will report exceptional items as a
result of the July 2023 Board changes, together with some
restructuring carried out in its operations in both the PFS and
SISS divisions during H2.
Outlook
The Group is seeing positive and
encouraging activity levels across its sectors at the start of
2024, with its UK transactional and advisory pipelines having now
recovered to a significantly improved position from a year ago.
2024 for the Group has started positively, with particularly strong
January invoicing in its UK agency and advisory business, Christie
& Co.
The Group expects to issue final
audited results for 2023 in April 2024.
Enquiries:
Christie Group plc
Dan
Prickett
07885 813101
Chief
Executive
Simon Hawkins
07767 354366
Chief Financial Officer
Shore Capital
Patrick
Castle
020 7408 4090
Nominated Advisor and
Broker
Notes to Editors:
Christie Group plc, quoted on AIM,
is a leading professional business services group with 37 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.
