Business
AGM Statement
AGM Statement.
About this update from Christie Group Plc
[{"type":"text","content":"\n\n14 June 2023\n \nChristie Group plc\n(\"Christie Group\" or the \"Group\")\n\nAGM Statement\nChristie Group plc (AIM: CTG.L), the leading provider of Professional & Financial Services and Stock & Inventory Systems & Services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, announces that at today's Annual General Meeting, the Chairman and Chief Executive, David Rugg, will deliver the following statement:\n\"Professional & Financial Services\nTransactional times have elongated as portfolio break-ups absorb market resources. Additionally due diligence is extended, particularly where vendor distress is involved. In such cases vendor warranties or indemnities, if available, may provide less assurance.\n \nOur agency practice within Christie & Co has been favoured with portfolio disposals, such as a group of\n61 pubs for Marston's PLC, the UK-wide Coast & Country hotel collection, the sale of 45 dental practices for BUPA and the sale of 111 care homes for Four Seasons Health Care. Whilst completions to date are down, our level of new sale mandates and offers to purchase are both ahead of the prior year. We have just launched our Healthcare sector business in Germany. Our consultants and valuers are busy in both the UK and Europe, the latter with a preponderance of bank driven work.\n \nChristie Finance has increased its pipeline in value by 28% since 1st January 2023. The highest volume increase has been in our unsecured lending & asset finance division. Secondary and tertiary lenders appear inundated but under-resourced. This slows deal progress.\n \nChristie Insurance is working with Pinders' building surveying services to help insurance clients ensure adequate protection against current rebuilding costs.\n \nStock & Inventory Systems & Services\nOrridge has followed the rebalancing of retail stocktaking from the shop to warehouse and distribution centres. Our pharmacy stocktaking remains on the high street. We are confident that we can grow our supply chain work quite rapidly, as in many cases it is being outsourced for the first time.\n \nVenners, our leisure and hospitality stocktaker, continues its uninterrupted recovery. Its consultancy team analys...