Trading Statement

RNS Number : 3960E

Christie Group PLC

18 July 2016

 

18 July 2016

Christie Group plc
("Christie Group" or the "Company")

Trading Statement

Christie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, announces that in the light of softer than previously anticipated trading in its Professional Business Services division, operating profit for the year ending 31 December 2016 is likely to be lower than previously expected. 

Within its Agency business, a small number of transactions were lost upon announcement of the European referendum result, after which point the business sales market is continuing its function.

While our first half revenue to 30th June is expected to be broadly in line with the corresponding period last year, we anticipate a growth in second half revenues year on year.  

Nevertheless, after recouping the expected first half loss referred to by the Chairman at the June AGM, this growth in second half revenues is now expected to be insufficient to achieve the level of full year profit that was previously anticipated.

A fuller update will be provided with the release of the Interim results, expected to be issued on Monday 12 September 2016.

 Enquiries:

Christie Group plc

David Rugg                                                                                                                                           020 7227 0707

Chief Executive

Dan Prickett                                                                                                                                        020 7227 0700

Chief Financial Officer

Panmure Gordon (UK) Limited:

Dominic Morley / Charles Leigh-Pemberton                                                                        020 7886 2906

Nominated Adviser & Broker

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 46 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.

Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - 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 essential 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

 

 

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