Christie Group PLC – CTG – Final Results

Christie Group PLC – CTG – Final Results

Christie Group plc ('Christie Group' or the 'Group'), the leading provider of Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS) to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, is pleased to announce its audited preliminary results for the 12 months ended 31 December 2020.

 

Key points:

 

·      Revenue of £42.2m (2019: £78.0m) impacted by the pandemic

 

·      Operating profit pre exceptionals for the 2nd HY £1.1m

 

·      Operating loss for the full year pre exceptionals contained to £4.4m loss (2019: £5.8m profit)

 

·     Sectorisation of Christie & Co - more flexibility, efficiency and lower cost base going forward

 

·      All our sectors remain in demand and pricing of businesses is robust

 

·      Retail stocktaking restructured

 

·      Prudently foregone a final dividend (2019 total dividend: 1.25p per share)

 

·      Ended year with a healthy cash balance of £10.3m (2019: £9.8m)

 

·      Earnings per share (19.32p) - 2019: 15.30p

 

·      2021 has started positively and look forward to remainder of year with enthusiasm

 

 

Commenting on the results, David Rugg, Chairman and Chief Executive of Christie Group said:

"2020 Group performance was impacted by the pandemic especially in the 1st half year; however, we have already experienced a recovery in performance in the 2nd half year. The business reorganisations taken by the Group during this period, have created the ability to generate higher levels of profitability. 2021 has started positively in the PFS division and Retail stocktaking businesses, and as our Hospitality stocktaking & visitor attractions businesses reopen we shall be firing on all cylinders." 

 

Full Report: https://www.londonstockexchange.com/news-article/CTG/final-results/14941808

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