Churchill China (LON:CHH) raised its final dividend after a strong set of results for 2018, sending shares up during Wednesday morning trading.
The hospitality ceramic manufacturer said that group revenue for the year to December-end was up 7% to £57.5 million, compared to £53.5 million reported a year ago.
Meanwhile, profit before tax and exceptional items rose 26% to £9.4 million, up from £7.5 million in 2017.
Adjusted earnings per share jumped 26% to 69.6p.
As a result, the company proposed a final dividend of 20.3p, up 18%
Churchill China said that overall its hospitality revenue growth increase by 10%, up 2% from a year ago.
In addition, group export revenues rose 17%, with exports now representing 60% of total group revenue.
Alan McWalter, Chairman of Churchill China, commented on the results:
‘2018 has been a very successful year for Churchill, we have exceeded our expectations in relation to business and financial performance. 2019 has started well and we believe that we can make further progress.’
Churchill China has been listed on the London Stock Exchange as of 1994. It is a constituent of the junior aim market.
Shares in the company are currently trading +4.59% as investors react to the latest results.
