Static sales at Churchill China
Ceramics specialist Churchill China is hoping to demonstrate an “improved performance” in the coming months after it released its preliminary results this morning. Operating profit remained static while turnover increased £2.6m to £43.7m at the year-end.
Operating profit remained the same as the previous year at £2.3m for the year ending 31 December 2010. The Stoke-on-Trent-based company experienced some small growth with an increase in pre-tax profit of £200,000 from its 2008 results, up to £2.3m.
Year-end net cash stood at £4.4m, compared with 2008’s result of £6.9m.
Jonathan Sparey, chairman of Churchill China, said: “We are confident that our long term strategy of investment in all aspects of our Hospitality business will continue to deliver results, driving an expected increase in market share in the UK, a continued recovery in European accounts and contributing to an improved performance in 2011.”
