Pottery firm Churchill China is expecting to see a big jump in profit in its results for last year.
The Stoke-on-Trent based manufacturer has said in a trading update that it anticipates that profit for 2022 will be at the upper end of analyst expectations.
Its range of market expectations for profit before tax for the 12 months to December 31, 2022 is £8 million to £8.8 million. Operating profit for the 12 months to December 31, 2021, was £6.1 million.
In the statement, the company, which serves hospitality markets worldwide, said: “Despite ongoing market uncertainty we have continued to grow revenue in export markets and our UK market position has benefited from our ability to offer a high level of service.
“As previously noted, margin levels remain lower than in previous years although there has been some improvement in the second half of the year as we have managed the challenges of increased material and energy costs.
“Our outstanding order book remains above normal levels and progress has been made in improving supply to customers towards the end of the year. The rate of incoming orders continues to be satisfactory.
“We continue to build our market position for the long term and to invest in strategic initiatives aligned to market development, operational efficiency and energy management.”
Earlier this winter, Churchill China, in Sandyford, announced it was giving each of its 750 staff an extra £400 each to help them get through the cost of living crisis. It was also looking to recruit another 100 people.