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Churchill China Plc - Latest AGM Statement

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("Churchill China" or the "Company")


Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, will hold its Annual General Meeting at 12 noon today. At the meeting, Alan McWalter, Chairman, will make the following statement:

"I would like to update you on the positive progress our business has made since our 2020 Preliminary Results announcement on 19 April 2021.

In our Preliminary Results announcement we advised that, following a quiet first quarter given COVID-related market constraints, we were beginning to see growing evidence of a recovery in hospitality activity and sales as these restrictions were relaxed. I am pleased to report that this increased activity has continued over the following six weeks and we now enjoy a healthy order book. This improvement has been most evident in the UK, but we have also been encouraged by stronger trading in Europe and other export markets. We believe our decision to maintain operating levels will stand us in good stead and that the level of momentum within the business will allow us to meet our target performance levels both in the short and longer term.

Whilst the Company is currently trading in line with the Board's expectations, we remain mindful of the potential for further impact on our revenues and operations from future market restrictions and therefore continue to maintain operating flexibility and a sound financial base."