Christie Group hikes dividend after swing to H1 profit

(Sharecast News) - Shares in Christie Group surged on Monday after the professional services firm raised its interim dividend by a half following a return to profitability in the first half and a solid update on current trading. The company, which works in the hospitality, leisure, healthcare, medical, childcare and education and retail sectors, operates two distinct divisions: professional and financial services (PFS) and stock and inventory systems and services (SISS).

Revenues were up 24% year-on-year at £34.8m over the six months to 30 June, with the company reporting an operating profit of £1.3m, compared with a loss of £0.4m previously.

The improvement reflecting strong growth in the PFS division, driven by the demand for brokerage, valuation and advisory services. First-half operating profits from PFS jumped to £1.8m after being breakeven in the first half of 2024.

The board declared an interim dividend of 0.75p per share, up from the 0.5p paid out the year before.

"While our pipelines and ongoing activity levels are encouraging, sensitivity remains as to deal times. Adopting a sensible level of prudence, we anticipate a more balanced full year performance than we delivered in the previous year and remain confident of delivering a full year performance in line with expectations," said chief executive Dan Prickett.

The stock was up 10.2% at 124p by 1106 BST.