Driven by Hospitality Sector, Churchill China Posts Strong Interim Results

Global hospitality tabletop leader Churchill China plc announced its interim results today for the six months ended 30 June 2016. Churchill, a manufacturer and global distributor of performance ceramic and related products to hospitality and retail markets announced that group six-month revenue increased 12%, driven by strong revenue in their Hospitality sector products.

According to the company, Churchill has made good progress against their long term targets and have successfully completed a number of projects which they expect to contribute to the further development of the Company. Specifically, Churchill reports that their Hospitality business has once more reported record revenues. They attribute this progress to the targeted development of export markets and increased sales of added value products. Churchill also anticipates that the economic environment looking forward is likely to be more uncertain, but the company believe that their business is well positioned to respond positively to changing conditions within their markets.

Key highlights:

• Group revenue up 12% to £24.0m (2015: £21.4m)
• Hospitality total revenue growth 15%

• Operating profit up 30% to £2.0m (2015: £1.6m)
• Profit before tax up 29% to £2.0m (2015: £1.6m)

Alan McWalter, Chairman of Churchill China, commented: “Churchill has delivered a strong performance in the first half of the year and the Board remains confident that our strategies remain appropriate for the future progress of the business. Our Hospitality business has once more reported record revenues. We are confident that we will meet our expectations for the full year.”

For more information on Churchill, their products and their performance, go here:

http://www.churchill1795.com/