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(Sharecast News) - Christie Group said in an update on Thursday that it is trading in line with expectations for the year, supported by strong activity in its brokerage and software divisions despite macroeconomic headwinds and higher employment taxes in key sectors.
Ahead of its annual general meeting, the AIM-traded company reported a 29% year-on-year increase in UK business brokerage income for the five months ended 31 May.
The pipeline of merger and acquisition deals under solicitor instruction rose 15%, with resilient investment appetite across hospitality, healthcare, childcare, and retail supporting further momentum.
Continental brokerage operations also showed improved invoicing compared to the same period last year, while valuation and business appraisal revenue was up 12% year-on-year.
Fee income from finance brokerage rose slightly, although growth was slower following a strong 2024.
Christie Insurance continued its steady progress, with strong client retention and an expanded sales team across its business and life insurance divisions.
Within its stock and inventory systems and services unit, Venners traded marginally ahead of 2024, despite softer discretionary spending in the hospitality sector.
Software-as-a-service (SaaS) business Vennersys grew net revenue by 17%, supported by a 20% increase in active client sites compared to a year earlier.
The board said it remained confident in the group's medium to long-term prospects, and was focused on driving sustainable value for shareholders.
At 0940 BST, shares in Christie Group were down 6.57% at 140.15p.
Reporting by Josh White for Sharecast.com.
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