LONDON (Alliance News) - Churchill China PLC Thursday said its operating performance since it published its full-year results in March has remained encouraging, while sales to hospitality customers has continued to grow at a satisfactory rate.
The company, which manufactures ceramic products for hospitality and retail markets, said it is confident that its first half performance will demonstrate good progress.
In March, Churchill China posted pretax profit of GBP3.4 million for 2013, up from GBP2.7 million in 2012, as revenue rose 4% to GBP43.2 million from GBP41.4 million a year earlier.
However, it said sales in its retail division were hit by increased costs on imported ranges, as a result of the EU Anti-Dumping Duties on imported products.
Churchill China shares were quoted up 0.7% at 503.5 pence Thursday afternoon.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Churchill China (CHH)