Churchill China recently reported preliminary results for the year ended 31 December 2021, with total revenue of £60.8m (2020 revenue was £36.4m). These results represent growth of +111% on 2020 and +4% on 2019 results.
According to Alan McWalter, Chairman of Churchill China, "The second half of 2021 saw a strong recovery in our sales to the Hospitality market such that the full year results are ahead of our expectations. We continue to benefit from record levels of demand and, while we are mindful of the potential impact of external factors on our markets and manufacturing operations, we remain confident in our ability to deliver an improved performance in 2022." For more information, please visit: https://polaris.brighterir.com/public/churchill_china/news/rns/story/wkn1vvw And, it's not just #NYC that is still hurting from the lack of #businesstravel. Many major metropolitan markets now not expected to #recover until 2024 according to a study by the American Hotel & Lodging Association and Kalibri Labs.
Here's a link to the NY Post newspaper article that explains it all: https://nypost.com/2022/04/20/nyc-hotel-and-tourism-business-has-long-road-to-recovery-study/ Be sure to check out this #podcast from Frankfurt's Ambiente trade fair. It was an honor to be included with our colleagues from around the globe to discuss all things #HoReCa.
Here's a link to the Ambiente feed: https://www.facebook.com/ambientefair Prints – the newest collection of hospitality dinnerware from Turkey’s Bonna Porcelain – is emblematic of the company’s strong belief in sustainability and giving back. With the mantra of “What we take from the earth, we give it back”, Bonna’s new Prints Collection works to reduce their carbon footprint with the by producing from 100% recycled material. In addition, Bonna cooperates with WWF-Turkey so that threatened wild animals can take one more step on earth. Every piece of Prints Collection is genuinely inspired by the tail and footprints of threatened species. With every Prints product that can be put on the table, it is possible to draw attention to living creatures whose future is in danger and to make them leave another mark on the world.
Bonna is the HoReCa/hospitality/foodsevice sector brand of Kar Porselen (est. 1983). Bonna was founded in 2014 to provide innovative products and solutions for hospitality industry. Today, with two facilities in Kocaeli/Turkey and Bilecik/Turkey and with a production capacity of 30 million pieces per year, Bonna proudly serves sector professionals in over ninety countries and 6 continents.
Bonna Porcelain prides itself on its technological infrastructure to provide personalized solutions for different needs. Along with its ethical partnership model and its notion in “growing together” approach to business, Bonna aims to inspire tomorrow’s taste with the global hospitality market. To learn more about Bonna and get your own copy of their new 2022 catalog, please visit them here: https://bonna.com.tr/en/ #TabletopMatters
Additionally, here are links to 2 of Steelite International’s newest publications:
Steelite USA‘s Collections 14 product book: https://drive.google.com/file/d/1fLmJIkY92pvNhrYIhqJyDPOzz6iYxwyo/view?usp=sharing Steelite UK‘s 2022 New Products guide: https://drive.google.com/file/d/1BnsneqNuipAx-U2sY-4QciygsrZh7cry/view?usp=sharing
The bold sham and distinct profile complete the presentation and at just 7.5 ounces, each pour is special enough to use only the highest quality ingredients to ensure the best for your guests while maintaining profitability. Hospitality Brands new Bold Drinkware has 20+ collections, over 70 SKUs with shapes in stemware, barware, cocktail and even accessories. The designs run from classics to contemporary. Clearly, new Bold Drinkware has something for everyone.
You can learn more by visiting: https://www.hospitalitybrandsusa.com/ In the past financial year, Villeroy & Boch increased its group net sales including licence income by 18 % to € 945 million and thus significantly exceeded the forecast (€ 920 million) last adjusted in September 2021. There are double-digit growth rates in both divisions, which is especially remarkable.
The September forecast (€ 85 million) was also clearly exceeded in the group operating result (EBIT) with a record amount of around € 92 million. This is by far the highest group operating result since the IPO in 1990. This extraordinarily positive business development is not only evident compared to 2020, but also in a similar form in comparison to the 2019 financial year, which was unaffected by the pandemic, and thus underlines the substantially improved performance of the Group. Note: Villeroy & Boch will provide information about the final figures for the fourth quarter and the financial year 2021 on 17 February 2022 when the consolidated financial statements are published at the annual press and analysts’ conference.
Following the success of their Flow Bento products, UK-based Craster has recently launched a second bento system. The Stacking Bento Box collection is based around the same Flow Gastronorm footprint but is expanded to provide properties with a sustainable option for delivery of cuisine and drinks in guest rooms, poolside and across grounds and spas. The elements stack together, with fantastic coverage to guard against coughs and sneezes and they are made from fine, responsibly sourced walnut and oak to support the phasing out of single-use containers. Now, environmentally responsible operators can curate excellent dining experiences with the modular Stacking Bento Boxes for meal and drinks delivery without single use plastics. Craster’s new Bento Box systems are intelligently designed for properties where elegance and understated materials are as important as wellness and hygiene. Craster has these in stock and they’re available now.
For more information on Craster and their Flow Bento Box systems, please visit: https://craster.com/food-beverage/product-type/bento/ Churchill China plc, the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, recently announced the following trading update for the year ended 31 December 2021. The Board expects to meet market expectations* for profit before taxation for the year ended 31 December 2021. Churchill has continued to address the issues set by the COVID pandemic whilst maintaining our focus on securing long term market share gains. According to the company, they have exceeded their earlier revenue estimates but have experienced higher production cost levels as we have quickly scaled output to meet demand and cost inflation has risen. In their release, the company continued by saying, "Revenue has continued to grow strongly and H2 sales, particularly in Hospitality, have shown growth against 2019 comparatives. Order levels have been high as overall supply into the market from their competitors has remained constrained. We have chosen to meet this demand given our objective to support our customers in a replacement orientated sector. We have performed particularly well in Europe where sales have exceeded 2019 levels across the year as a whole. Our market leading position has allowed us to bring forward our normal price rise and implement a higher than normal increase to offset some of the effects of higher cost inflation." The necessity to scale production quickly in order to meet this increased demand has created additional pressure on our operations alongside cost inflation, leading to some inefficiencies within our manufacturing unit. We expect these effects to continue into 2022, but to show progressive improvement over the year as a whole. We believe that profitability in 2022 will show further substantial growth on 2021's outfall. Churchill has also accelerated their investment plans to reflect the need to reduce energy costs and to improve productivity. Churchill also stated that the company's financial position remains robust and cash and deposit levels have increased from the half year position. The Company intends to announce its Preliminary Results for the year ended 31 December 2021 in April this year. * Company compiled consensus market expectations for profit before taxation for the financial year to 31 December 2021 is £5.6m.
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