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AIM-listed ceramics company Churchill China (LON:CHH) reported that pre-tax profits for the six months ended 30th June were up by 30%. Revenues climbed by 17% with improving performance in ceramics and better value-added in the hospitality segment.
Chairman Alan McWalter commented: “Churchill has been substantially re-positioned as a business over the past five years. We have emphasised the development of differentiated high margin products in Hospitality and exited from markets where we did not have a competitive advantage. We believe we offer a technical performance product to attractive markets worldwide with a high level of service. We have a well invested business supported by a strong balance sheet“.
The price of Churchill China dropped by 0.95% to 1,570p (as of 15:30 BST).