Trading Statement

Christie Group PLC

18 May 2023

 

18  May 2023

Christie Group plc

("Christie Group" or the "Company")

Trading Update

The Board of Christie Group Plc (CTG.L) advises that a culmination of recent unprecedented conflation of market timings, caused by the coincidental sale of exceptionally large portfolios of  Dental, Pharmacy and Care Home assets on unit by unit bases, is expected to result in a more pronounced second-half weighting to its full year performance than previously anticipated.

The industry's business mortgage lending teams and the specialist non-conflicted Chartered Surveyors that value such businesses for business purchase funding purposes are fully utilised, which has resulted in delayed lead times. Consequently, a backlog of transactions has occurred.

In view of this deal congestion and other factors, the Group believes that some output from its own transactional pipeline that had been expected to be recognisable as revenue in H1 will now be postponed into H2. As previously indicated, the overall full year performance was already expected to be second-half weighted.

The Board's expectations of trading for the full year to 31^st December 2023 remain unchanged.

Enquiries:

Christie Group plc

David Rugg                                                                          020 7227 0707

Chairman and Chief Executive                                   

Daniel Prickett                                                                   020 7227 0700

Chief Operating 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 38 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.

 

END