Churchill China PLC – INTERIM RESULTS

Churchill China PLC – INTERIM RESULTS

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, is pleased to announce its interim results for the six months ended 30 June 2018.

Key Highlights:

  • Group revenue up 6% to £27.2m (H1 2017: £25.8m)
    –      Constant currency growth 6% (H1 2017: 2%)
    –      Hospitality revenue growth 9% (H1 2017: 8%)
    –      Group export revenues up 17% (H1 2017: 19%)
    –      Exports now represent 63% (H1 2017: 57%) of Group revenue
  • Operating profit up 22% to £3.3m (H1 2017: £2.7m)
  • Operating margin 11.9% (H1 2017: 10.3%)
    –      Further conversion of standard to added value product
  • Profit before tax up 24% to £3.3m (H1 2017: £2.7m)
  • Earnings per share up 24% to 24.4p (H1 2017: 19.6p)
  • Interim dividend up 18% to 8.7p (H1 2017: 7.4p)
  • Cash generated from operations £1.7m (H1 2017: £1.1m)
  • Good progress against strategic objectives 

Alan McWalter, Chairman of Churchill China, commented: “I am pleased to report that Churchill has again delivered a strong performance in the first six months of the year with increased revenues and margins contributing to good profit growth and continued progress against our strategic targets.”

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