27 Mar 2019
A further serving of premium growth and strategic progress
Churchill has delivered an excellent outcome for 2018 of 24% PBT growth on 7% top-line progress. This implies a 4% beat at the PBT level vs our forecast. Strategically, last year once again demonstrated that management continue to deliver on the twin objectives of export sales growth and augmenting the mix towards added-value products. Momentum going into 2019 is strong and the company is on the front foot re Brexit planning. We push through EPS upgrades of 3-4% and see fair value at 1450p. We r ....
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A further serving of premium growth and strategic progress
Churchill China plc (CHH:LON) | 1,175 0 0.0% | Mkt Cap: 129.2m
- Published:
27 Mar 2019 -
Author:
Sahill Shan -
Pages:
3
Churchill has delivered an excellent outcome for 2018 of 24% PBT growth on 7% top-line progress. This implies a 4% beat at the PBT level vs our forecast. Strategically, last year once again demonstrated that management continue to deliver on the twin objectives of export sales growth and augmenting the mix towards added-value products. Momentum going into 2019 is strong and the company is on the front foot re Brexit planning. We push through EPS upgrades of 3-4% and see fair value at 1450p. We r ....