Churchill China PLC - Stoke-on-Trent-based ceramic products maker - Says although the fourth quarter of 2020 was negatively hurt by increasing Covid-19 restrictions, it traded profitably in the second half of the year. States it expects improved trading conditions in 2021, but warns the first quarter of the year will be hurt by ongoing government restrictions across all its markets, adding that due to uncertainty it will hold off on declaring a dividend.
"Whilst we retain a strong balance sheet, given continuing uncertainty in relation to Covid and government responses, we believe it is too early to declare a dividend at this stage. We will further assess this position at the time of publication of our preliminary results in April 2021."
Current stock price: 1,295.00 pence
Year-to-date change: down 3.2%
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Churchill China (CHH)