Churchill China expects to achieve FY23 profit guidance as H1 targets met

2 min read | October 11, 2023 06:14 PM AEDT | By Team Kalkine

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Churchill China expects to achieve FY23 profit guidance as H1 targets met — Image source: NicoElNino @shutterstock

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Highlights

Churchill China PLC (LSE:CHH) recorded approximately 6.3% year-on-year growth in top-line business, in H1 FY23.

The company held a net cash and deposits of £9.90 million, as of 30 June 2023.

After having achieved its targets for H1 2023, the company is expecting to achieve its full year FY23 profit guidance.

FTSE AIM All-Share index listed Churchill China PLC (LSE:CHH) is a manufacturer of ceramic tableware. The company operates through two business divisions, namely Ceramics and Materials.

In H1 FY23, the company recorded approximately 6.3% year-on-year growth in top-line. The increase was mainly because of 9.2% YoY surge in Hospitality revenue. Its adjusted earnings per share witnessed an increase of about 38.9% YoY in the reporting period. Also, CHH’s interim dividend per share grew by ~4.8% YoY for the first half. The company held a net cash and deposits of £9.90 million, as of 30 June 2023.

Churchill China has announced to pay an interim dividend of 11.00 pence per share later this month, with an ex-dividend date of 21 September 2023.

After having fulfilled its targets for H1 2023, the company is expecting to achieve its full year FY23 profit guidance.

According to the company, it is well-positioned to achieve long-term growth as it is operating in the optimal market segments. The firm has been able to reach normal levels in its order book, with better delivery times. Overall, the performance product is gaining traction in the markets worldwide. Churchill China is targeting increased profitability with higher efficiency & productivity in the coming quarters.

Top 10 shareholders
Approximately 61.82% of the total shareholdings is held by the top ten shareholders of the company. While Investec Wealth & Investment Limited owns the maximum number of shares with over 11% shareholding, Roper (James Andrew) holds around 9.04% to be the second highest stakeholder in the company.

Stock price Performance

CHH’s stock price has dropped by about 10.51% in the last one month. It has fallen by over 7% in the last six months. The stock’s 52-week low and high price stands at GBX 1,052.00 and 1,720.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 09 October 2023. The reference data in this report has been partly sourced from EODHD/Others.

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