Churchill China announces strong export growth and higher value-added

Churchill China, a specialist in performance ceramic for hospitality and retail markets worldwide, announced strong export sales thanks in part to weakness in Sterling.

In an update for the six months to 30 June, the AIM-listed company also boasted of an improved product mix, with increased value added as a proportion of revenues thanks to its product innovation.

"We remain confident that we will continue to deliver against our performance targets," the company said in a statement.

Overall, Churchill, whose products are used in hospitality establishments in over 70 countries worldwide, said its business continued to "make good progress".

Although the company's share price had underformed since its finals, in March, analysts at N+1 Singer said Thursday's update should remind investors of the attractiveness of the company's overseas markets and the "positive forecast momentum of the Churchill story".

N+1 Singer said 'fair value' for the shares lay at about 1,100p.