Progress for Christie Group as firm returns to profit and shrugs off ‘acute challenges’ of 2023

The firm also saw revenue up 15.4 per cent to £60.4m, a lift from £52.3m in 2023.

Commenting on the results, Dan Prickett, chief executive of Christie Group said: "2024 was a year of progress for our Group, following on from the acute challenges we faced in 2023.

“We returned the group to a positive full year trading performance, completed the successful divestment of our loss-making retail & pharmacy stocktaking brand, Orridge, and continued with our plans to evolve our International brokerage business into a multi-sector offering with the launch of Healthcare in France, having launched the same sector in Germany in 2023.

“Demand for our services and pipelines remains robust and the Group is well placed to deliver on its plans for the year ahead"

Christie Group announced in November that it had disposed of Orridge for a cash consideration of £5m.

Simon Herrick, Christie Group chairman, said at the time that the move would “improve the Group's near-term profitability and cash flow” and “release both time and resource to invest in the profitable growth of our core businesses”.

During the 2024 financial year, Christie Group sold 1,187 businesses through its agency and advisory business, Christie & Co. The figure marked a lift from 856 units sold last year, and a new record for the firm.

The value of businesses sold by the firm within the year reached £1.35bn.

The group’s finance brokerage arm, Christie Finance, tripled its profits in the year with revenue up by 40 per cent, while Venners, the group’s hospitality business, doubled its profits in the year.

A statement from the firm added: ”The Group is well positioned for an improved performance in 2025 with opportunities for growth across all business sectors in the UK and internationally.

“The Group remains cautious given the increased tax burdens on our clients, potential impact of the US government approach to international trade and current geopolitical events.

“However, the year has begun encouragingly and we are confident that the Group is well prepared to deliver on our current plans for the medium to longer term, in our ability to navigate the challenges ahead and to continue to deliver improving value to our stakeholders.”