Christie Group PLC Trading Statement (8601Z)
18 Maggio 2023 - 8:00AM
UK Regulatory
TIDMCTG
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.
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END
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(END) Dow Jones Newswires
May 18, 2023 02:00 ET (06:00 GMT)
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