Churchill China announce an interim dividend of 11.0 pence per share (H1 2022: 10.5 pence per share, FY2022: 31.5 pence per share) an increase of approximately 5% on the previous year despite the increase in corporation tax in the current year to 25% (2022: 19%). This improvement in dividend is in keeping with the Company's aim of increasing returns to shareholders. This dividend will be payable on 13 October 2023 to shareholders on the register at 22 September 2023.
Other financial highlights include:
Operating profit before exceptional items increased year on year by 39% to £4.9m (2022 H1: £3.5m, FY2022: £9.1m)
Profit after exceptional items and before tax for the period was £4.7m, an increase of 20% (2022 H1: £3.9m, FY2022: £9.6m)
Adjusted earnings per share were 34.3p (H1 2022: 24.7p, FY2022: 66.9p)
Net cash and deposits at 30 June 2023 of £9.9m (H1 2022: £15.7m, FY2022: £14.7m) reflecting planned increases in stocks and reduction of creditors
