Churchill China Reports Strong Half-Year Results

Churchill China has announced an increase in pretax profit for the first half of the year, driven by higher prices and improved revenue. Despite market challenges, the company remains confident in meeting its profit expectations for the full year.

Revenue Boosted by Price Increases

The London-listed ceramic-products manufacturer reported a 7.8% decline in volumes during the period, with 75% of this decrease attributed to the slowdown in the UK market. However, the implementation of price increases in 2022 helped to offset this decline.

Financial Highlights

• Pretax profit: £4.7 million, up from £3.9 million in the previous year
• Revenue: £44 million, compared to £41.4 million in the same period last year

Dividend Increase

In addition to its positive financial performance, Churchill China declared an interim dividend of 11.0 pence per share, up from 10.5 pence in the prior year.

Resilient and Optimally Positioned for Future Growth

The company expressed confidence in its resilience and strategic focus on key market segments that will drive long-term growth. It believes that regardless of short-term economic impacts, Churchill China will continue to deliver growth over time.

Shares of Churchill China were up 2.3% at 1,325 pence as of 0715 GMT.