Business
INTERIM RESULTS
INTERIM RESULTS.
About this update from Churchill China Plc
[{"type":"text","content":"\n \nRNS Number : 6914M Churchill China PLC 29 August 2013 \n \n\n\n\n\n\nFor immediate release\n\n\n29 August 2013\n\n\n\n\n \n \n \n \nCHURCHILL CHINA plc\n(\"Churchill China\" or the \"Company\" or the \"Group\")\n \nINTERIM RESULTS\nFor the six months ended 30 June 2013\n \nChurchill China plc (AIM: CHH), the manufacturer and global distributor of ceramic and related products to hospitality and retail markets is pleased to announce its interim results for the six months ended 30 June 2013. \n \nKey Highlights:\n \n· Group revenue for the six months to 30 June 2013 was £19.7m (2012: £19.2m)\n· Operating profit up 42% to £1.1m (2012: £0.7m)\n· Profit before tax up 56% to £1.1m (2012: £0.7m)\n· Basic earnings per share up 58% to 7.6p (2012: 4.8p)\n· Cash and deposit balances of £4.8m (30 June 2012: £4.3m)\n· Interim dividend increased to 4.9p (2012: 4.8p)\n \nAlan McWalter, Chairman of Churchill China, commented: \"We have started the year with a very encouraging first six months and current trading levels remain good for the Group as a whole.\"\n \n \n \nFor further information, please contact:\n \n\n\n\n\nChurchill China plc\n\n\nTel: 01782 577566\n\n\n\n\nAndrew Roper / David Taylor \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan\n\n\nTel: 020 7466 5000\n\n\n\n\nMark Court / Fiona Henson / Sophie Cowles\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nN+1 Singer\n\n\n\n\n\n\n\nRichard Lindley\n\n\nTel: 0113 388 4789\n\n\n\n\n \n \n \n \n\n\n \nCHAIRMAN'S STATEMENT\n \nIntroduction\n \nI am pleased to report a healthy increase in Group profitability for the first half of 2013. Our Hospitality business has performed well across all sectors although our progress in Retail has been more restrained. Group revenues rose from £19.2m to £19.7m. Group operating profit increased by £0.4m to £1.1m.\n \nFinancial Review\n \nRevenues grew steadily building on the solid performance achieved last year and the Group both improved gross margins and managed costs well. Group operating profit increased by 42% to £1.1m (2012: £0.7m) with operating profit margins rising from 3.8% to 5.3%. The Group benefitted...