Hospitality Tabletop Leader Churchill China Posts Preliminary 2104 Results

Hospitality tabletop leader and UK manufacturer, Churchill China, announced its preliminary results for the year ended 31 December 2014 yesterday.  Key Highlights:

·     Group revenue up 3% to £44.5m (2013: £43.2m)

–      Hospitality revenue growth 10% (2013: 11%)

·     Operating profit up 26% to £4.2m (2013: £3.4m)

·     Profit before tax up 28% to £4.3m (2013: £3.4m)

·     Basic earnings per share up 24% to 31.2p (2013: 25.2p)

·     Proposed final dividend up 13% to 11.0p (2013: 9.7p)

·     Increased investment in UK manufacturing

·     Cash and deposit balances of £10.5m (2013: £8.2m)

Alan McWalter, Chairman of Churchill China, commented: “It is a pleasure to again report strong progress in Churchill’s performance. We are confident that we have the right long term strategies to continue the development of our business and the resource to implement these plans.”  

Included in the comments were references to an increased priority towards the hospitality business and the export (outside UK) markets. Great to see key tabletop marketers understand the importance of and the potential that our industry provides

For more on Churchill’s preliminary results, go here:
http://www.investegate.co.uk/article.aspx?id=201503260700234902I