Share Name Share Symbol Market Type Share ISIN Share Description
Christie Group Plc LSE:CTG London Ordinary Share GB0001953156 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -1.36% 109.00 108.00 110.00 110.50 109.00 110.50 24,928 15:06:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 78.0 4.4 15.3 7.1 29

Christie Share Discussion Threads

Showing 551 to 570 of 575 messages
Chat Pages: 23  22  21  20  19  18  17  16  15  14  13  12  Older
My tiny toehold was sold at open today, following the miserable H1 results. Negatives: - independent NED with remuneration expertise resigns - pension deficit up by £4.75m to almost £17m (compare with market cap!) - £6m LBT in 6 months, blamed entirely on covid, with second wave taking off Counterpoints that give some hope: - Lord Lee had topped up his big stake and called it "undervalued" in his FT column on 3 October - The PFS business would probably still be profitable in a future normal year - Still a lot (£13m) of (gross) cash on the balance sheet, which gives some short term flexibility (inflows from receivables and loan) With poor and deteriorating governance, high remuneration, no institutional investors (good luck with any capital raising!) and losses that seem likely to continue with covid, I prefer to reallocate my money and attention elsewhere.
I have nothing against a quiet bulletin board, but 6 months of silence?! I retain a tiny toehold here only, as the combination of a lossmaking 2020, the pension deficit, and too highly compensated and intransigent management continuing to fund several lossmaking subsidiaries did not appeal very much. I note that the combined(!) Chair/CEO shifted much of his stake to his son (so that any sale is not reportable, perhaps?), and I was not too impressed by a quick skim of the annual report. The AGM statement today has some big positives in that the SISS business (which should have been restructured five years ago) seems to have been cut quite a bit, and an apparent new focus on margins is refreshing. The gratitude to customers who paid early makes me worry that they are on the ropes, though. I am looking forward to seeing the 1H report in October, in particular the latest size of the pension deficit and further comments on strategy, restructuring and outlook.
I've bought in
This is in it?
Lord Lee ISA holding :-)
Say again?
Lord Lee ISA holding
Big rise today
I think you have judged the conditions surrounding Orridge very well. Have you ever worked or connected with that side of the business? Thanks
Sadly I failed my Bletchley Park entrance exams, so am unable to decipher the previous two postings...
Sttetet qt
Not a lot of interest here so might as well post this announcement:- Christie & Co successfully brokers sale of petrol filling station group Christie Group plc (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, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has completed on the sale of Cornwall Garage Group to Ascona Group. The portfolio of 17 petrol filling stations, located across the Midlands, Home Counties and South West of England, was established by John Murray in the early 1960s and comprises fourteen freehold and three leasehold sites. It was ranked 13 on the Forecourt Trader Top 50 Indie 2019 listing. The group has been purchased by Ascona Group which itself has rapidly expanded over the last two years. This acquisition takes them to 37 operational sites and moves the group into the top 10 independent fuel retailers in the UK. Grant, Lance and Pamela Murray comment, "The Murray family are pleased to announce the sale of the Cornwall Garage Group to Ascona Group. The company was set up over 50 years ago by John Murray. Following his death in post at 94 years old the family decided to sell the group in order to facilitate the development of other interests. We wish Ascona Group every success in the future and thank our loyal and hardworking staff for all their help in making the Cornwall Garage Group such a happy and successful family business. We'd also like to thank the Christie & Co team for all their hard work, persistence, dedication and advice throughout the process, from marketing through to completion." Mark Kaluza, Director of Retail at Christie & Co who led the deal for the Murrays adds, "We have worked with the Murrays for a number of years and were delighted to receive their instructions to handle the sale. They agreed to a full and open marketing campaign which exposed the opportunity to the entire market. We received significant interest in the group as a whole and over 100 offers for individual sites. We wish Darren and his team well with integrating 17 sites in to the expanding Ascona Group portfolio and are very pleased to have played a large part in their expansion plans. with this pivotal acquisition."
I completely agree with the above. IMO the CEO and chairman role should be split but this seems unlikely given the shareholding. Orridge is clearly the problem child and it appears to be showing no signs of improving despite the new strategy. I suspect it just lacks scale to be able to succeed in this regulatory environment and not helped by the carnage on the high street and given the wages on offer struggle to fill the post without paying salaries that are unprofitable. I suspect as they shift the workforce to full time they then suffer from underutilisation. Orridge therefore almost certainly needs to merge and scale up and at the same time this will remove the losses from the p and L of Christies.i suspect they are reluctant to do this when it is loss making and so the can gets kicked further down the road. They need to sort it out but sadly there is no one independent to hold the business to account. A divestment or partial divestment would allow a rerating of the stock. I suspect the losses from this division exceed £1m. It would also be encouraging to see the business be more cash flow positive. They seem to struggle to throw cash off which is disappointing. They will get there if they can sort Orridge and keep the sales going through despite Brexit which seems to be the case albeit with some concerns around financing.
Nope. On decent volume as well.
Perky today, anyone picked up on anything?
Tiny director purchase:- https://uk.advfn.com/stock-market/london/christie-CTG/share-news/Christie-Group-PLC-Director-PDMR-Shareholding/80240508
The laughter from Directors when a shareholder mentioned the dismal share price return over the last 30 years seems to sum up the view that the Directors have of shareholders
Sleepy: Hmmmm, I did not look around the room so hard to tell, and some will probably have voted in advance on paper, so hard to tell. I voted against it. Perhaps you should request a poll next year, and/or for the votes for and against to be counted and published? Clearly management is paid extremely generously (the CEO at more than twice the AIM CEO median if you compare with the BDO report stats) and with several others not far off - which is in sharp contrast to e.g. the minimum wage people they employ in some parts of the business, and very uncomfortable from a governance viewpoint when they have: (1) a combined CEO/Chair (with very flaky wording about why) (2) a majority of executive directors on the board (these same, highly paid people!) (3) a chair of the remcom who is not independent They were very lucky, and probably relieved, not to be pushed harder on compensation and governance during the Q&A. (I spoke with one of the NEDs 1-1 about it, though). PS: I am willing to except the MD of PFS from my compensation comments above - I am happy for him to be paid very well given the very strong performance of that division and the nature of those services.
Am I correct in saying that all the votes in favour of the remuneration resolution at yesterday’s AGM came from Directors and that there were none in favour from the Non Director shareholders?
One of the longer AGM statements I've read :) All in all reads as reassuring for H2 and will hopefully provide ongoing strength for the share price which has drifted so much of late. Only 50 shares available to buy online. Long may that shortage continue!
Chat Pages: 23  22  21  20  19  18  17  16  15  14  13  12  Older
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