Christie Group – strong Management moves point to a better-than-expected current year performance, shares 120p, brokers comparative value 250p

Mark Watson-Mitchell – 23.12.2025

Yesterday morning the Christie Group (LON:CTG) announced that it had sold off its loss-making subsidiary Vennersys – which was a signal of strong corporate management.

This morning the company has issued a very positive Trading Update stating that it anticipates a stronger full-year performance than previously expected due to robust trading in the latter part of 2025, particularly in its Professional & Financial Services division.

The company expects to advise on over 1,000 business transactions in the UK with improved average fees, alongside strong year-on-year revenue growth from international brokerage operations.

Valuation activities have been strong, and the finance brokerage brand, Christie Finance, is projected to deliver continued revenue and profit growth, while insurance intermediary renewals are also exceeding expectations.

Following the disposal of its loss-making software business, the remaining stocktaking brand, Venners, is expected to contribute revenue growth and sustained operating profit, leading to an improved year-end cash position.

Sale of Vennersys

The group has entered into an agreement to dispose of the business and assets of its visitor attraction software business, Vennersys, to Digital Ticketing Systems Limited for an initial cash consideration of £0.5m, with up to an additional £0.9m payable within 18 months based on performance conditions.

The sale, expected to complete by January 31, 2026, follows Vennersys' reported gross assets of £1.43m and a pre-tax loss of £1.57m as of December 31, 2024.

This disposal aligns with the company's strategy to enhance earnings quality and balance sheet strength, allowing for greater focus and investment in its core brands to drive sustainable growth.

Upon the announcement Chairman Simon Herrick stated that:

"Following changes to the Board structure during 2023 we undertook a strategic review of the Group's operations.

It was decided that we would dispose of Orridge and Vennersys, the two non-core Group operations, which both had long term histories of losses within the Group and required more expertise, focus and investment to grow and generate profit than we could provide.

These businesses had taken much Group time and resources over many years, which can now be better spent on developing, investing in and growing a stronger group of core brands, offering a more coherent platform of unparalleled related services to our highly valued existing clients, whilst building new client relationships and expanding internationally.

We believe that the disposal of Orridge during November 2024 and the conclusion of the disposal of Vennersys now completes a significant strategic step forward in the story of Christie Group plc."

The Business

The group is a leading professional business services operator with 33 offices across the UK and Europe, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.

It has two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS).

Tracing its origins back to 1896, the group has a long-established reputation for offering valued services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management.

The diversity of these services provides a natural balance to the group's core agency business.

Brokers View

Analyst Rob Sanders, at Shore Capital Markets, is looking for further growth in 2026.

His estimates for the year to end-December are for revenues of £65.9m (£60.4m), adjusted pre-tax profits of £1.8m (£1.0m), earnings of 5.2p (4.4p) and paying a dividend of 2.8p (2.3p) per share.

For 2026 he sees £71.2m sales, £2.8m profits, 8.2p earnings and a 4.0p dividend per share.

My View

The shares at 120p are not cheaply rated on 2025 estimates, on 23 times earnings, but on 15 times 2026 earnings, it shows a better valuation.

Sanders is going for £4.0m profits in 2027, 11.8p earnings and a 5.0p dividend.

These shares are heading higher.