Trading Statement

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.

 

END