Christie Share Discussion Threads

[davidosh] 21/5/2022 21:30

Mello2022, our annual flagship two day smaller growth company event will be returning to the popular Clayton Conference Centre in Chiswick, London W4 on Wednesday 25th May and Thursday 26th May.

Just to let shareholders and prospective investors know that Christie Group will be among the 60+ LSE Small Cap and AIM listed companies featuring at the show. There will also be keynote speakers such as Lord John Lee, Andy Brough, Leon Boros, Clarke Carlisle and Gervais Williams.

1 day tickets are £115 and 2 day tickets are £189. However they are available at half price to shareholders so to obtain 50% off just use code MMTADVFN50.

For more information, please visit the event webpage:

[tole] 01/5/2022 14:44

https://masterinvestor.co.uk/equities/small-cap-catch-up-featuring-rbn-tly-and-biln/Christie Group (LON:CTG) – looking for a rise up in priceThe business services group, which can trace its origins back some 175 years ago, saw a 45.1% advance in its revenues to £61.3m (£42.2m) for the year to end December last.That bounce pushed it back into pre-tax profits of £3.9m (£5.7m loss), worth 13.7p (loss 16.7p) per share in earnings and paying a dividend of 3.0p (1.3p).Shore Capital analyst Peter Ashworth considers that the group is significantly undervalued, with its shares trading on just around nine times current year earnings estimates of 12.2p. He sees £71m sales, £3.9m profits and a 3.5p dividend this year.For next year he has estimates of £76m sales, £4.8m profits,15.0p earnings and a 4.0p dividend.The shares, now at just 115p, have touched 139.60p in the last year and look to me as though they can rise back up there over the coming year, even possibly breaking through my price aim level.

[sludgesurfer] 12/4/2022 17:15

Wicked spread though and very illiquid means having to buy in tranches. Not conducive to making gains on short term moves.

[sludgesurfer] 12/4/2022 17:14

Picked up a few more here in the hope of the results being "significantly ahead of market expectations" lights a fire under the price.

[km18] 15/2/2022 18:23

...from last year....

Christie Group plc published interims for the 6 months to June 2021. The Group expects to exceed the current market operating profit view for the year after posting H1 21 operating profit of £1.8m on revenue of £28.6m. EPS returned to positive territory at 3.17p, an interim dividend was reinstated and the balance sheet remains strong. Optimistic sounding comment from management suggests that the H2 outlook is also pretty rosy. Revenues are rebounding from COVID although still have a way to go to return to pre-COVID peaks. Meanwhile valuation is pretty attractive, both forward PE ratio and PS ratio are top quartile for the sector. But there is still a £15m underfunded pension liability. The company is going in the right direction, but isn’t overly exciting just yet. One to monitor for now....from WealthOracleAM

[sludgesurfer] 19/1/2022 08:59

I'm not sure I've ever heard that phrase. Certainly very un-Christie like.

[cwa1] 19/1/2022 07:42

It's a while since I heard a very significantly ahead :-)

[playful] 19/1/2022 07:36

Very significantly in excess of current market expectations.

[playful] 23/12/2021 10:30

I have joined you today.

Nonetheless, should our year end progress continue as anticipated, we continue to expect our results for the full year to exceed current market expectations.

We intend to issue a further trading up date concerning the current year, early in 2022."

[vprt] 29/10/2020 08:17

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.

[vprt] 28/9/2020 10:31

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.

[awise355] 30/3/2020 09:30

I've bought in

[awise355] 30/3/2020 08:46

This is in it?

[cwa1] 30/3/2020 08:42

Lord Lee ISA holding :-)

[awise355] 30/3/2020 08:30

Say again?

[markwell] 30/3/2020 02:22

Lord Lee ISA holding

[lancasterbomber] 23/1/2020 14:49

Big rise today

[awise355] 08/1/2020 19:23

I think you have judged the conditions surrounding Orridge very well. Have you ever worked or connected with that side of the business? Thanks

[cwa1] 13/12/2019 14:30

Sadly I failed my Bletchley Park entrance exams, so am unable to decipher the previous two postings...

[spirito] 13/12/2019 13:46

Sttetet qt

[cwa1] 13/12/2019 13:44

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."

[remslie] 02/10/2019 08:09

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.