Churchill China Plc - AGM Statement

Churchill China plc, the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, will hold its Annual General Meeting later today. At the meeting, Alan McWalter, Chairman, will make the following statement:

"I am pleased to report that we continue to enjoy good trading levels across our business. We have made further progress since our Preliminary Results announcement in March 2019 and we remain confident that our full year performance will be in line with market expectations.

Growth has remained strong in Europe, supported by the opening of our Rotterdam distribution centre. Recent new product introductions continue to be well received, further improving the proportion of our revenue in sales of technically differentiated added value product.

We continue to create opportunities to develop our business and we have increased the level of investment within our operations in the first months of 2019 to support this. We expect this investment to continue as part of our long term approach to value generation. The integration of the Dudson brand and products purchased in April into Churchill is proceeding well.

After more than forty-five years of service to Churchill since 1973, Andrew Roper has informed the Board of his intention to retire in August 2020. I would like to thank Andrew for his outstanding contribution to the development of Churchill and wish him well for the future."