Churchill China PLC
11 January 2001
FOR IMMEDIATE RELEASE 11 JANUARY 2001
CHURCHILL CHINA plc
STRONG PERFORMANCE IN KEY 4TH QUARTER TRADING PERIOD
Further to the trading update given on 26 October 2000 Churchill China plc is
pleased to report that trading in the key 4th quarter, and particularly in
December, has been well above the Board's expectations and that it therefore
expects to significantly exceed current market estimates of profitability for
the year ended 31 December 2000.
Sales levels in the Dining Out division have been strong in the UK where the
division's customer service and product innovation have continued to ensure
that it has delivered growth in what remains an attractive market. The Dining
In division has continued to progress against its strategic objectives and the
Group has implemented further measures to ensure that these targets are
achieved.
Progress in trading has been reflected in a strong operating cash flow and at
31 December 2000 the Group had net cash in hand. Investment in the growth
areas of the business has and will continue. The improvement in the cash
position of the Group will support the progressive dividend policy announced
alongside the re-instatement of the interim dividend in September 2000.
A more detailed analysis of performance and future prospects will be given
with the Group's preliminary announcement of results for the year to 31
December 2000 in March 2001.
Further information, please call:
Stephen Roper, Chairman Tel No: 01782 577566
David Taylor, Finance Director
Churchill China plc
Tim Anderson Tel No: 0207 466 5000
Lisa Baderoon
Buchanan Communications