Manufacturer’s share price hits all-time high

Churchill China's share price, January 2009 - July 2019

The share price of pottery manufacturer Churchill China jumped to an all-time high today after it revealed it will outperform expectations this year.

The Stoke-on-Trent firm, which was founded in 1795, is maintaining the momentum from 2018, which chairman Alan McWalter described as “a very successful year”.

McWalter believes the business has been transformed since 2013, which has been reflected in the growth in the share price – up more than 400% in that time.

It has risen particularly sharply in 2019. It began the year at 940p and closed last night at 1500p, a rise of 60% in just six months.

Churchill China’s shares were up 10% in early trading, pushing the price up further to 1650p.

Investors reacted positively to an update issued to the stock market this morning which said the business “has continued to perform well”.

It added: “Hospitality revenue growth has been ahead of our initial expectations, with the majority of this out-performance again being attributable to further progress in Europe. We now anticipate trading performance will be ahead of our earlier expectations for the full year.”

Around 60% of Churchill China’s £58m sales last year came from exports and its strategy continues to be to increase its market share overseas.

Churchill China’s interim results will be announced on August 29.

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