17th Jan 2024 11:30
Churchill China PLC - Stoke-on-Trent, England-based ceramic products' manufacturer - Says 2023 profit is in line with market forecasts, despite a "challenging" second half. Revenue for the year dipped to GBP82.1 million from GBP82.5 million in 2022. Decline in revenue offset by "improving manufacturing yields" after overcoming staffing issues. Adds that a reduction in agency staff in the fourth quarter of 2023 supported margin improvement. Looking ahead, it expects demand to "remain weak" for at least the first half of 2024, citing a "challenging" macroeconomic situation in the UK and Europe. Read More