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Churchill China H1 profit climbs 29.1% YOY

Churchill China PLC said its normalized net income for the first half amounted to 12 Great British pence per share, an increase of 28.4% from 9 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £1.3 million, a gain of 29.1% from £991,250 in the year-earlier period.

Total revenue rose 11.8% year over year to £24.0 million from £21.4 million, and total operating expenses grew 10.3% on an annual basis to £22.0 million from £20.0 million.

Reported net income rose 31.9% from the prior-year period to £1.6 million, or 15 pence per share, from £1.2 million, or 11 pence per share.