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Trading statements

Christie issues profit warning

18 July 2016 07:54

Christie (CTG) issued a profit warning due to softer trading in its Professional Business Services division, which means 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 on announcement of the European referendum result, after which point the business sales market is continuing its function.

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

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 full update will be provided with the release of the interim results, expected to be issued on 12 September 2016.

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