Christie Group Returns To Profit, Backs Full-Year View

16th Jun 2010 11:23

LONDON (Dow Jones)--Christie Group PLC (CTG.LN), a provider of business services, said Wednesday it has returned to profit and has seen transaction volumes in the professional business services division building steadily from the low experienced a year ago, matched by a healthy increase in the number of businesses coming to the market. MAIN FACTS: -Overall expectations for the year remain unchanged. -The residential property market remains an important source of seed equity for first time business buyers. -The renewed availability of mortgage funds albeit on more restricted criteria is therefore an encouraging barometer for the business property sector. -Demand for the valuation and consultancy services continues itself a sign of renewed wider market activity. -Stock and inventory services businesses have continued to demonstrate a resilience to the wider economic climate. -Although not immune to reduced activity in the market, the U.K. retail sector remains a strong source of income, and the reorganization the company has undertaken in Europe leaves us with a basis to deliver improved results from the continent in the second half of the year. -At 1021 GMT shares flat at 44 pence. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; [email protected] (END) Dow Jones Newswires June 16, 2010 06:23 ET (10:23 GMT)