Churchill China Share Discussion Threads

[tole] 30/4/2023 10:55

https://moneyweek.com/investments/605633/share-tips?utm_term=FFAF5E81-2D79-47F5-98EA-B910365D2306&utm_campaign=3854FBCB-FE1F-457E-9C9A-87C5805A0127Churchill China Interactive Investor Renewed optimism that a global recession can be avoided is especially palpable in small caps such as this £144m ceramics firm, which produces plates, mugs and cookware for the hospitality and retail sectors. About 40% of group sales come from the UK, with the second-largest market in continental Europe. Management defied Brexit trade woes to grow sales in Europe by 32% last year. Rising energy costs are a challenge, and on 21 times earnings the shares aren't cheap, but "on a two-year view... Churchill's strengths will show through". Buy, 1,310p

[volsung] 28/4/2023 08:14

Bought some
Looks like a nice pullback

[eggbaconandbubble] 20/4/2023 15:44

What caused that?

[wad collector] 18/4/2023 20:19

Well that's a 1 yr high ; that'll do for now.

[kalai1] 13/4/2023 12:57

Churchill China plc posted impressive Final Results for the year ended 31 December 2022 this morning. Revenues were £82.5m up 36%, operating profit before exceptional items was up 49% to £9.2m, PBT was up 61% to £9.6m, adjusted basic earnings per share was up 77% to 66.9p. The total dividend for the year was 31.5p, up 76%. The balance sheet remains strong with net cash at £14.7m. Valuation looks a little unhelpful with forward PE ratio at 16.7x and PS ratio at 1.74x both in the bottom quartile for the Household Goods market. Share price also remains in a 2-year correction and lacks positive momentum. The Group is delivering solid growth and profitable growth and is worth monitoring for the longer run, but there is no rush to buy...

...from WealthOracle

[wad collector] 13/4/2023 08:14

The numbers are back to pre-pandemic levels,despite all the headwinds, let us hope the share price follows.

[1c3479z] 13/4/2023 07:22

good report.

[wad collector] 10/4/2023 15:11

Finals Thursday.

[bda3490] 02/2/2023 20:29

A most excellent pre close
Held for many years.

Solid clean honest accounts always and back on track after the last few years

Trust the board with give Mr Taylor a big thank you for his service not many FDs like him around - maybe JHD

[wad collector] 10/1/2023 18:01

"Churchill China" or the "Company")

FULL YEAR TRADING UPDATE

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces the following trading update for the year ended 31 December 2022.

The sound performance reported in our half year results on 13 September 2022 continued into the final months of the year. As a result the Board anticipates that profit before taxation for the year ended 31 December 2022 will be at the upper end of analyst expectations*.

Despite ongoing market uncertainty we have continued to grow revenue in export markets and our UK market position has benefited from our ability to offer a high level of service. As previously noted, margin levels remain lower than in previous years although there has been some improvement in the second half of the year as we have managed the challenges of increased material and energy costs. Our outstanding order book remains above normal levels and progress has been made in improving supply to customers towards the end of the year. The rate of incoming orders continues to be satisfactory.

We continue to build our market position for the long term and to invest in strategic initiatives aligned to market development, operational efficiency and energy management.

The Company intends to announce its Preliminary Results for the year ended 31 December 2022 in April.

* The Company compiled range of market expectations for profit before taxation for the financial year ended 31 December 2022 is GBP8.0m to GBP8.8m.

[nocton] 18/9/2022 17:16

The Times rates it as a Buy.

[wad collector] 18/9/2022 14:15

IC article this week describing the sudden halt during Covid but recovery almost back to prepandemic levels. Points out that energy costs have been passed on to customers but shortage of skilled workers and recessionary fears make it a HOLD at 1222p.

[actscap] 13/9/2022 20:41

Superb trading update given the macro environment -- Record order books, energy hedged into Q3 2023, and growth across all key markets.Labour-side weaknesses should resolve themselves in due course. I like the decision to increase holdings of raw materials to improve supply chain security. It's such a well managed business.

[wad collector] 13/9/2022 12:59

Key Highlights:

Financial

-- Operating profit before exceptional items GBP3.5m (2021 H1: GBP1.1m, FY2021: GBP6.1m)
-- Profit before exceptional items and tax GBP3.4m (2021 H1: GBP0.9m, FY2021: GBP6.0m)
-- Reported profit after exceptional items before tax GBP3.9m (2021 H1: GBP1.0m, FY2021: GBP6.0m)

-- Adjusted* earnings per share 24.7p (2021 H1: 4.5p, FY2021: 37.8p)
-- Basic earnings per share 28.9p (2021 H1: 4.5p, FY2021: 37.8p)
-- Interim dividend of 10.5p per share (2021 H1: 6.7p)
-- Net cash and deposits of GBP15.7m (2021 H1: GBP13.4m, FY2021: GBP19.0m)
-- Cash generated from operations GBP2.0m (2021 H1: GBP0.9m, FY2021: GBP10.6m)
Business

-- Total revenues GBP41.4m up 73% (2021 H1: GBP23.9m, FY2021: GBP60.8m)
-- Strong revenue performance
o Hospitality H1: +87% on 2021, +32% on 2019

-- Successful execution of strategy with further market share gains across key markets
-- Strong demand from customers and end users with record order books
-- Sales price rises implemented in November 21 and May 22 to address inflationary pressures
-- Percentage margins affected by lower labour efficiency, absolute margins remain on target
-- UK manufacturing investment targeting process automation and energy efficiency

[wad collector] 09/9/2022 10:55

Well you have had a few more opportunities since then, unfortunately. Mainly about energy costs I suppose. TU on Tuesday.

[actscap] 15/8/2022 09:29

Took another chunk. Can't help myself below 1300.

[actscap] 22/6/2022 08:45

From the AGM statement this morning:In our Preliminary Results, announced on 21 April 2022, we advised that we were experiencing record demand across our geographic markets. I am pleased to report that this demand has continued and our order book remains healthy. We remain confident in our ability to deliver an improved year on year performance in 2022.I'm still waiting patiently for an opportunity to add here. Love this business as a long term holding.

[wad collector] 29/5/2022 09:42

XD 17.3p this week, but very unusually , because of the Jubilee, it is a Wednesday.

[wad collector] 21/4/2022 15:49

The prelims are encouraging. No cheap opportunity for you I am afraid!
They seem to be defying the headwinds and there is little use of cautious phrases. Hold and prosper I reckon.

[actscap] 14/4/2022 09:02

Took a nibble at 1,330. Will take a big swing if this drops next Thursday.

[actscap] 13/4/2022 09:13

Interesting....CHH is now available on CMC markets, with Morningstar research reports available to download. The MS report quotes a fair value of 19.94 and considers the moat as 'narrow' (vs. none or wide) and the financial health as 'strong' (vs. normal or weak).

[wad collector] 08/4/2022 17:26

Well , a new one year low ahead of prelims in 2 weeks. Guess it is mainly about energy prices along with austerity hitting a luxury item.

[actscap] 02/2/2022 12:16

Anyone know what's driving today's drop?

[wad collector] 06/9/2021 10:52

IC write up this week fairly positive with Hold rec following the Interims
1 September 2021


For immediate release 1 September 2021

CHURCHILL CHINA plc

("Churchill" or the "Company" or the "Group")

INTERIM RESULTS

For the six months ended 30 June 2021

Recovery well established with market share gains

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, is pleased to announce its Interim Results for the six months ended 30 June 2021.

Key Highlights:

Financial

-- Operating profit before exceptional items GBP1.1m (2020 H1: GBP0.5m, FY2020: GBP0.9m)
-- Profit before exceptional items and tax GBP1.0m (2020 H1: GBP0.5m, FY2020: GBP0.8m)
-- Reported profit / (loss) before tax after exceptional items GBP1.0m (2020 H1: (GBP0.4m), FY2020: GBP0.1m)

-- Adjusted basic earnings per share 4.5p (2020 H1: 3.5p, FY2020: 6.5p)
-- Basic earnings / (loss) per share 4.5p (2020 H1: (2.9p), FY2020: 1.0p)
-- Re-instated interim dividend of 6.7p per share declared July 2021 (2020 H1: nil)
-- Net cash and deposits of GBP13.4m (2020 H1: GBP16.3m FY2020: GBP14.0m)
-- Cash generated from operations GBP0.9m (2020 H1: GBP3.4m, FY2020: GBP1.8m)
o Working capital increase as revenues rebuild

Business

-- Total revenues GBP23.9m (2020 H1: GBP18.9m FY2020: GBP36.4m)
o 74% of 2019 H1 (2020 H1: 59%, FY2020: 54%)

-- Strong performance following lifting of COVID restrictions
o Group: May / June 2021 recovered to 2019 levels

o Hospitality: May / June 2021 105% of 2019

-- Continued market share gains across key markets
-- Service levels maintained
-- Further investment in UK manufacturing
-- Continued progress on implementation of strategic plans
Alan McWalter, Chairman of Churchill China, commented:

'We remain confident that we will make good progress against our business and financial targets in both the short and long term.'

[wad collector] 26/7/2021 13:53

TU from 3 weeks ago
The improved trading performance referred to in our Annual General Meeting announcement on 1 June 2021 has been maintained throughout the month of June. Revenue in both May and June recovered to 2019 levels and we continue to enjoy a good forward order book. This improved performance reflects progress across the UK, Europe and our other export markets. We do however remain mindful that COVID continues to introduce a degree of uncertainty into our assessment of future market and operational conditions.

In our Preliminary Results announcement on 19 April 2021 we indicated that the Board would review its dividend policy at the earliest opportunity once a clearer pattern of trading had been established. Given the performance achieved in the period ended 30 June 2021 along with our strong financial position the Board is pleased to declare an interim dividend of 6.7p per share (2020: nil). This dividend will be paid on 3 September 2021 to shareholders on the register at 6 August 2021, with an ex-dividend date of 5 August 2021. Coronavirus Job Retention Scheme grants claimed in relation to 2021 have been repaid. The Board wishes to thank shareholders alongside employees and other stakeholders in the business for their support over the period of the pandemic.

We expect to announce our Interim Results for the six month period ended 30 June 2021 on 1 September 2021.