REG - Christie Group PLC - Trading Statement

ChristieAnnouncement

18/05/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230518:nRSR8601Za&default-theme=true

RNS Number : 8601Z  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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEVLBFXELBBBV