| 6:48 21/09/2011 | Finncap.. |
| BY: Andrew Hore | POSTED: 20/09/2011 Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf By SpikeyDT |
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| 11:36 25/08/2011 | Growth Investor-Robert Tyerman |
| Churchill China eyes new fields 25/08/2011 Robert Tyerman http://www.growthcompany.co.uk/news/1650148/churchill-china-eyes-new-fields.thtml Hospitality and retail crockery supplier Churchill China (CHH) is considering cutlery and glassware distribution after upping interim profits 10 per cent to £689,000 pre-tax. The Stoke on Trent-based company, which supplies branded products to pub chains, hotels, contract caterers, motorway service stations as well as the retail market, saw turnover slide 5 per cent to £19.2 million in the six months to June, reflecting moves out of low-margin retail business. This helped AIM-quoted Churchill enhance its profitability, despite economic pressures on consumer spending. Finance director David Turner says there has been some trading down, but, by contrast with the credit crunch of 2007-08, 'pubs are still ordering and people are still coming in.' The hospitality side, which is two-thirds of the business, chalked up flat first half operating profits of £1.8 million on sales down 1 per cent to £12.9 million, as a 5 per cent increase in UK sales, where Churchill is 20 per cent market leader, was offset by a 12 per cent fall in exports. Taylor argues the company, which has matched customer trends with the launch of new product lines such as 'Asian' and a buffet range, can resist cheap foreign manufacturing competition because of the quality and durability needed in frequently-used hospitality china. Churchill's re-positioning of its retail activities saw sales in this division fall 11 per cent to £6.3 million. The company says new product launches have been 'very well received', as it pushes into farm shops, garden centres and web-based retailers. According to Taylor, Churchill, which exports a third of turnover, is faring well in Spain (where local makers are going bust), developing in Germany and is keen to expand into Russia. He says the company, which ended June with cash down by £1.7 million to £4 million, is now targeting niche sectors, including hotels and cutlery and glassware distribution. The second half is much bigger than the first, especially in hospitality, and house broker Brewin Dolphin sees pre--tax profits rising by £200,000 to £2.5 million for the full year. with £2.8 million on the cards for 2012. Down from a 332.5p year's high to 270p, the shares value the company at £29.5 million and yield 5.2 per cent, attractive to a yield-conscious investor. Tags: AIM market, China, Cutlery, David Turner, Glassware, Trading down Sector: Household Goods Companies: Churchill China By SpikeyDT |
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| 15:11 30/04/2011 | Proactive Investor |
| Hospitality remains key at Churchill China 12:00 pm Fine China: Churchill China, maker of this willow design dining set, is one for the income hunters. Churchill China Price: 290p Market cap £m: 31.7 Historical yield: 4.8 per cent Prospective yield: 4.8 per cemt Wills and Kate’s wedding could add the icing to what is shaping up to be a prosperous period for Stoke-based china plate maker Churchill China (LON:CHH). Income-seekers also have good reason to toast the happy couple. Churchill recently maintained its total dividend at 14p a share for the third year running and there is no reason why this dividend can’t at least continue to be maintained. The total cost of the dividend is £1.53 million. The dividend cover has edged up to just over 1.1 times earnings per share and it should rise again this year. That cover may look thin but the balance sheet is strong and the business is highly cash generative. Net cash has fallen from £6.88 million to £4.44 million as stocks of tableware have been rebuilt. A good return on assets and the change from RPI to CPI in calculating index-linked payment increases has helped to reduce the pension deficit from £7.7 million to £4.7 million. Revenues grew from £41.7 million to £43.7 million in 2010 with all the growth coming from the hospitality side of the business. Export sales are growing and the improvement came after an estimated £500,000 hit in the UK hospitality business from the snow at the end of 2010. The rise in pre-tax profit from £2.07 million to £2.31 million was due to a profit contribution from Churchill’s 34.4 per cent-owned associate Furlong Mills, a supplier of raw materials such as clay and feldspar to the ceramics sector, and a lower interest charge. The hospitality division has proved resilient with revenues growing by 11 per cent to £27.4 million with a profit contribution rising from £3.3 million to £4.1 million. Churchill did not expect the positive sales trend to continue so it was slow in increasing capacity. The UK is likely to be tough this year but increased sales and marketing investment should increase exports. The product range is being expanded into glassware. Retail sales fell from £17.1 million to £16.3 million and its profit contribution more than halved to £700,000. Costs are being cut by around £800,000 so that they are in line with a reducing level of business. A further decline of £4m is expected in 2011. Supplying supermarkets is low margin and Churchill is phasing out its business with Asda. Churchill is trying to move into the middle market on the retail side in order to improve margins. It is also looking at alternative sources of imported products as costs increase in the Far East. More of the retail products are likely to be sourced from eastern Europe. For 2011, house broker Brewin Dolphin forecasts another small rise in profit to £2.5 million. The shares are trading on 18 times prospective 2011 earnings. April is an important month for the business and chief executive Andrew Roper says that he will be able to give a better indication of how trading will go this year at the AGM on 17 May. Other dividend news Online gaming firm GVC (LON:GVC) reported a decline in underlying profit from €15.6 million to €8.5 million mainly due to €4.8 million of additional marketing costs in Germany and start up costs in new territories. Earlier in the year GVC paid a €0.50 a share special dividend and a €0.10 a share interim. The final dividend is €0.10 a share. Excluding the special dividend, the total dividend has halved to €0.20 (16.76p) a share but this should be a repeatable dividend level. The yield is 12.4 per cent. GVC’s policy is to pay out at least 75 per cent of net cash generated. A renegotiation of the deferred consideration for South America-focused Betboo, which could be €6.17 million, means there is no longer a worry about the dividend having to be cut. At 109p a share, the yield is around 15 per cent although becaus By SpikeyDT |
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| 22:46 13/04/2011 | Finncap.. |
| http://www.hubinvest.com/AIMPDFApril2011_19.pdf By SpikeyDT |
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| 19:29 02/02/2011 | mac |
| look for the security documentation By moneytopia bank |
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| 22:39 06/01/2011 | here's walter |
| sell By yogi69 |
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| 18:52 10/08/2009 | +4% on very thin trade |
| I see that with only 2 trades, 1 buy, 1 sell the price is up 4%. The bid / offer spread seems huge but I don't know if this is supposed to put people off buying, selling or both. Does anyone have a view on CHH as a recovery stock when the economy picks up? By JimmySav |
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| 21:14 18/05/2005 | todays trades |
| I Have still not found out if the large trades where sell or buys but the intra day chart seems to show an upswing in the price when the big trades go through. Looks to me like they could therefore be buys and if so someone is putting large wedges into this stock at this low price with that mutch money at stake surely they know what they are doing? If only somone could confirm the trades. If anyone has level 2 does this show. if so could you tell me? cheers By Hagrid the Horrible |
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| 15:21 18/05/2005 | Re: Re: Re: buying opportunity? |
| I imagine they are all buys. The sell will be a protected trade which will mark at the end of the day. By Lord Orphan |
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| 15:04 18/05/2005 | Re: Re: buying opportunity? |
| a lot of the large trades are disguised, does anyone know if they are buys or sells? would be interesting if any of them where buys By Hagrid the Horrible |
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| 12:17 18/05/2005 | Re: buying opportunity? |
| Maybe, but this is the second collapse in less than 6 months, so despite some of the fundamental data looking good, it still does not perform well. The company has never really performed strongly apart from circa 5 years or so ago, so would see this one as a risky bet, even despite what you say. However, current holders may benefit from a rebound, although I have a feeling that it is unlikely to be sustained in the short to mid term. TT By Techno Trousers |
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| 10:59 18/05/2005 | buying oppertunity? |
| The funamentals remain very good for this company and it seems they intend to maintain the dividend. Long term I think the drop today presents a good buying oppertunity there where some very large trades around 10 this morning but doesnt say if buy or sell - does anyone know? By Hagrid the Horrible |
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| 20:27 13/04/2005 | Re: directors dump shares |
| Well - Fancy meeting you here! Had this company on my danger list for last couple of weeks as price fell. Couldn't agree more. These guys took their options and sold instead of holding. Got to be a sell signal. Shame as I liked the Company profile. By Nutkin2010 |
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| 15:46 13/04/2005 | directors dump shares |
| all be it not many, but like bprg watch out i say follow them out the back door fl  By foxeylady |
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| 12:28 26/11/2004 | Re: Re: Sales/Profits |
| Thank you for that info. Very helpful.Scubaman. By scubaman1 |
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