Ceramics manufacturer sees 132% of growth in hospitality division

Churchill China, the Stoke-based ceramics manufacturer saw its hospitality market grow by 132% in the second half of 2021.

The firm saw 111% of growth for the whole group during this period.

It says strong demand has delivered sustainable market share growth in its preliminary results.

With revenue increasing to £60.8m from £36.4m in 2020, the firm says this strong performance is as a result of the lifting of COVID restrictions.

Operating profit before exceptional items grew six times in comparison to 2020 (£900k) to £6.1m now.

As costs continue to rise a sustainable sales price will increase in line with the increase, in order to offset the costs.
 
Following a year of no dividend’s in 2020, the firm now says there will be a total dividend for the year of 24p.
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Alan McWalter, the Chairman of Churchill China said: “The second half of 2021 saw a strong recovery in our sales to the Hospitality market such that the full year results are ahead of our expectations.

@We continue to benefit from record levels of demand and, while we are mindful of the potential impact of external factors on our markets and manufacturing operations, we remain confident in our ability to deliver an improved performance in 2022.”