18th Jun 2014 11:07
LONDON (Alliance News) - Christie Group PLC Wednesday expressed confidence for 2014, anticipating a positive first half of the year, in a statement at its annual general meeting.
The business services company for the leisure, retail and care markets said it had seen a good start to 2014.
"Notwithstanding the lagging recovery in continental Europe, with the benefit of a number of hotel and other portfolio transactions that we have in train, we anticipate significant growth from our existing activities for the full year," the company said in a statement.
The company's confidence is underpinned by activities in its professional business services division, and in its stock and inventory systems and services division.
In stock and inventory systems and services, the company's integration of its German stocktaking business is progressing well, it said.
Its UK stocktaking business continued to see a high retention rate, securing contracts with Superdrug Stores PLC, Savers Inc, Marston's PLC and Elior, as well as adding new business with HMV Retail Ltd and Atlas Fine Wines Ltd, amongst others.
The company's visitor attraction systems business Vennersys saw a busy period as clients upgraded to Windows 7, and it worked with clients to reach more stringent Payment Card Industry compliance.
In Professional Business Services the company's Christie + Co business advised bidders on over EUR10 billion of non-performing loan portfolios.
The company acted as administrators of the sale of 88 pubs by Retail & Licensed Properties, 34 new lettings for Punch Taverns, and sales including the Albannach in Trafalgar Square, and the Jamaica Inn on Bodmin Moor.
Additionally, it was involved in the sale of several hotels including the Queen's Gate Hotel in London.
Christie Finance saw a downward movement on required debt margins, improving affordability, after the UK government announced its Funding for Lending scheme would now be focused solely on business lending.
Shares in Christie Group were trading down 2.2% at 125.74 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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