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Christie swings to annual loss on pandemic impact

By BFN News | 08:22 AM | Monday 19 April, 2021


Professional services group Christie swung to annual loss as the pandemic impact including national lockdowns disrupted activity and weighed on demand. For the 12 months ended 31 December 2020, The pre-tax loss was £6.3 million from a profit of £4.4 million last year as revenue fell to £42.2 million from £78.0 million. The company said it had opted not to propose a dividend for 2020, but would reconsider dividend payments once supported by more normalised trading. Looking ahead to 2021, the company touted improved performance following a restructuring. 'Following business reorganisations in 2020 we have created the ability to generate higher levels of profitability from the levels of revenue previously achieved,' the company said. 'The year has started positively for our professional and financial services and retail stocktaking businesses,' the company said. 'After allowing for inevitable lead time and lags associated with sector reopening, for each quarter that our group is permitted to trade unimpeded we expect to do so profitably,' it added. At 8:22am: (LON:CTG) Christie Group PLC share price was 0p at 80p Story provided by StockMarketWire.com

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