Churchill China PLC – PRELIMINARY RESULTS

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, is pleased to announce its preliminary results for the year ended 31 December 2018.

Key Highlights: 

Financial

• Group revenue up 7% to £57.5m (2017: £53.5m)
• Operating profit before exceptional items up 24% to £9.2m (2017: £7.5m)
• Profit before exceptional items and  tax up 26% to £9.4m (2017: £7.5m)
• Reported profit before tax after exceptional items £8.8m (2017: £7.8m)
• Adjusted earnings per share up 26% to 69.6p (2017: 55.3p)
• Basic earnings per share 65.6p (2017: 58.4p)
• Proposed final dividend up 18% to 20.3p (2017: 17.2p)
• Cash generated from operations £8.3m (2017: £7.7m)

Business

• Hospitality revenue growth 10% (2017: 8%)
• Group export revenues up 17% (2017: 16%)
• Exports now represent 60% (2017: 55%) of Group revenue
• Further increase in added value product sales
• Performance continues long term growth trend
• Good progress against key strategic objectives

Alan McWalter, Chairman of Churchill China, commented: ‘2018 has been a very successful year for Churchill, we have exceeded our expectations in relation to business and financial performance. 2019 has started well and we believe that we can make further progress.’