Churchill China PLC Full Year Trading Update (1611M)
10 January 2023 - 6:00PM
UK Regulatory
TIDMCHH
RNS Number : 1611M
Churchill China PLC
10 January 2023
For immediate release 10 January 2023
CHURCHILL CHINA plc
("Churchill China" or the "Company")
FULL YEAR TRADING UPDATE
Churchill China plc (AIM: CHH), the manufacturer of innovative
performance ceramic products serving hospitality markets worldwide,
announces the following trading update for the year ended 31
December 2022.
The sound performance reported in our half year results on 13
September 2022 continued into the final months of the year. As a
result the Board anticipates that profit before taxation for the
year ended 31 December 2022 will be at the upper end of analyst
expectations*.
Despite ongoing market uncertainty we have continued to grow
revenue in export markets and our UK market position has benefited
from our ability to offer a high level of service. As previously
noted, margin levels remain lower than in previous years although
there has been some improvement in the second half of the year as
we have managed the challenges of increased material and energy
costs. Our outstanding order book remains above normal levels and
progress has been made in improving supply to customers towards the
end of the year. The rate of incoming orders continues to be
satisfactory.
We continue to build our market position for the long term and
to invest in strategic initiatives aligned to market development,
operational efficiency and energy management.
The Company intends to announce its Preliminary Results for the
year ended 31 December 2022 in April.
* The Company compiled range of market expectations for profit
before taxation for the financial year ended 31 December 2022 is
GBP8.0m to GBP8.8m.
For further information, please contact:
Churchill China plc Tel: 01782 577566
David O'Connor / David Taylor / James
Roper
Buchanan Tel: 0207 466 5000
Mark Court / Abigail Gilchrist
churchillchina@buchanan.uk.com
Investec Bank plc (Nominated Adviser
and Broker)
David Flin / Alex Wright / William Tel: 0207 597 5970
Brinkley
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END
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