Churchill China performing in line as chairman steps down

Performance ceramics specialist Churchill China said in an update on Thursday that its recent trading had been in line with expectations, particularly in export markets.

The AIM-traded firm, which was holding its annual general meeting, said it had also made notable progress in improving profit margins.

It also addressed its change in leadership, with chairman Alan McWalter stepping down as chairman and director of the company after the AGM.

Robin Williams was set to assume the role of chair of the board and nomination committee under the firm’s succession plan.

“Alan has made an invaluable contribution to the long-term success of the company during his tenure as chairman,” said chief executive officer David O'Connor.

“On behalf of the board, we would like to sincerely thank him for his leadership, counsel and support and wish Alan the best for his future endeavours.”

At 1247 BST, shares in Churchill China were up 4.92% at 1,442.6p.

Reporting by Josh White for Sharecast.com.