REG - Christie Group PLC - Trading Statement

ChristieAnnouncement

08/12/2023 07:00

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RNS Number : 0864W  Christie Group PLC  08 December 2023

8 December 2023

 

Christie Group plc

("Christie Group" or the "Company")

 

Trading Update

 

The Board of Christie Group plc (CTG.L) advises that, as anticipated,
invoicing levels have improved markedly since the end of the summer period and
as such the Group expects to report an improved second-half performance on
that achieved in H1.

 

However, it now appears likely that a number of transactions previously
expected to exchange in the last few weeks of this year will not now reach
that stage until early 2024. Buyers and vendors actively working towards
contractual exchange have indicated their intention to delay transactions into
2024 to avoid pre-Christmas operational disruption to their businesses. These
deals would be expected to exchange early in the new year.

 

The resulting market uncertainty caused by transactional delays and moving
deal timings, mean that the full year result, before exceptional costs is now
likely to be below current full year market expectations, but with transaction
pipelines and activity much improved from twelve months ago and heading into
the start of 2024.

Enquiries:

 

Christie Group plc

Dan
Prickett
                07885 813101

Chief
Executive

 

Simon Hawkins
 
07767 354366

Group Finance Director

 

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.

 

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