Last checked at 19 May 2010 07:00
Churchill China plc
AGM Trading Update
19 May 2010
At the Company's Annual General Meeting today, Jonathan Sparey, Chairman, will make the following statement:
"I am pleased to report that in the period since our Preliminary Results Statement on 25 March 2010, overall trading performance in the four months to the end of April 2010 has continued to show solid progress against the comparative period last year.
Hospitality revenues continue to strengthen with the steadily improving trend since last September noted at the time of our Preliminary Results announcement, being maintained into April. We continue to make ground in the UK where a refreshed approach to our core market is generating encouraging levels of additional sales. We have also improved our position across the majority of our export markets.
Consolidated revenues in our Retail division have declined somewhat in the first four months of the year as a strong sales performance in lower margin volume channels last year has not been repeated in 2010. However, we continue to make progress against our target of improving the quality of our earnings through increasing sales to middle market customers in the UK and abroad.
Our major goal for 2010 is to improve our profitability, despite the backdrop of continued economic and market uncertainty, by focusing our resources and effort on the sectors of our business which generate the highest returns. I am pleased that in the period to date we are making good progress against this objective."
Ends.
For further information, please contact:
| Churchill China plc | Tel No: 01782 577566 |
| Andrew Roper / David Taylor |
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| Buchanan Communications | Tel No: 020 7466 5000 |
| Tim Anderson / Lisa Baderoon / Stasa Filiplic |
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| Brewin Dolphin Investment Banking | Tel No: 0845 270 8610 |
| Andrew Emmott |
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