Cracking result for pottery firm as profits jump 30%

Companies like Churchill China could be put under pressure from overseas manufacturers

Churchill China has delivered a 30% increase in pre-tax profits as it continues to perform strongly.

The Stoke-on-Trent firm had previously announced its 2016 financial performance would be “well ahead” of the previous year, which had sent its share price soaring.

The company share price reached an all-time high of 1,178p earlier this month, after a 50% rise over the previous 12 months. At last night’s close, of 1,110p, the company had a market value of £120m.

Today it has revealed group revenue has jumped 9%, to £51.1m, while it added £1.5m to its pre-tax profits, which rose to £6.5m.

Alan McWalter, chairman of Churchill China, said: “2016 was a year of strong performance across our business. We continue to believe that our strategy is well founded and that it can continue to be successfully executed.  We look forward to the coming year with confidence.”

The company has enjoyed recent success in Australasia, Central and South America and the United States as its export business has flourished, boosted by favourable exchange rates in the second half of the year.

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