31st Mar 2014 14:47
LONDON (Alliance News) - Christie Group PLC Monday said its annual pretax profit fell by about 50% after a decline in revenue, higher finance costs and restructuring costs.
In a statement, the professional services business said it made a GBP541,000 pretax profit in 2013, compared with GBP1.1 million in 2012. Revenue fell to GBP54.2 million, from GBP56.1 million. Finance costs increased to GBP584,000 from GBP333,000. Exceptional costs relating to restructuring amounted to GBP442,000, of which there were nil in 2012.
"The year started well in the UK for revenue generation where we currently enjoy a cost base lower than the corresponding period last year. The continental recovery lags behind the UK and is uneven but we are seeing encouraging signs in the Germanic region and parts of the Mediterranean, most notably Spain," Philip Gwyn, Chairman, said in a statement.
Christie Group increased its final dividend to 1 pence from 0.5 pence. That means its full-year dividend was 1.5 pence, up from 1.0 pence in 2012.
Christie Group shares were Monday quoted at 100.00 pence, down 3.9%.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Christie