Christie Group has a lot going for it. Growing in several countries and an employer to around 650 people, the brokerage business is a well-respected name in multiple niche sectors. Last year sales exceeded £70mn, and management reckons operating profits of £10mn are possible. The kicker, following the disposal of several subsidiaries, is that its balance sheet is full of cash.
Lord Lee of Trafford clearly agrees. In more than 80 transactions since 2002, he has amassed a 6 per cent holding across both his personal investment account and the charitable trusts he oversees.
So why is the business valued at just £35mn? We put this question and many more to chief executive Dan Prickett, who has been at the company for 17 years - including the last two and a half in the top role.
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Timestamps
00:00 Intro
00:30 Recap of last episode
01:44 Introducing Dan Prickett
02:21 What is Christie's
05:10 John's history with the business
09:37 Institutional shareholders
12:10 Dan's stake in the business
15:08 Trading statement
23:40 Why is the stock price low?
30:18 Expansion in Europe
35:49 Setting targets
37:08 John's portfolio round up
39:25 PZ Cussons
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