Professional services firm “does not anticipate being profitable” due to COVID-19
A professional services firm which works with a range of industries affected by COVID-19 has stated it does not expect to be profitable this year.
London-based Christie Group, which provides professional, financial and stock and inventory systems and services to the hospitality, leisure, healthcare, medical, education and retail sectors, has issued a statement amid the ongoing coronavirus outbreak.
The firm commented: “We began the year trading normally but as a result of the Covid-19 induced restriction of trade our group does not anticipate being profitable this year.”
Christie Group confirmed that physical operations within its stock and inventory systems and services division have been halted.
Both the firm’s professional and financial business and leisure have seen a reduced volume of activity, however its pharmacy division has continued to operate at the expected level.
In its statement this morning, Christie Group explained: “Overall, the majority of our UK staff have been placed upon grant aided furlough. Other government backed arrangements apply internationally. This is significant and welcome support where people costs are the substantive portion of our cost base”
“We believe that the group’s own resources, taken together with expected government backed support are sufficient to meet our cash requirements.
“Our committed management and their core teams are doing their utmost to remain in a strong position to increase our levels of activity as conditions permit.”
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