Good morning all,

Two announcements catch my eye this morning.

First up, interims from tableware firm Churchill China (LON:CHH):
http://www.investegate.co.uk/churchill-china-plc--chh-/rns/interim-results/201408270700320637Q/

everything is ahead although surprisingly, the headline numbers do not quote percentages.


Group revenue up 6% to £20.9m (2013: £19.7m)

Operating profit up £0.3m to £1.4m (2013: £1.1m)

Operating margin up to 6.6% (2013: 5.3%)

Profit before tax up £0.3m to £1.4m (2013: £1.1m)

Basic earnings per share up 2.4p to 10.0p (2013: 7.6p)

Proposed interim dividend of 5.1p (2013: 4.9p)

Cash and deposit balances of £8.5m (June 2013: £4.8m)


outlook:
Given the seasonality of our markets, performance in the second half of the year is the most important contributor to our annual performance. We expect our rate of growth to moderate in the second half against more difficult comparatives from the excellent trading at the end of 2013. The Board remains confident that we will deliver a strong performance for the year as a whole in line with our expectations.

Just the sort of announcement shareholders like to read with results so well done to Churchill China (LON:CHH) and their shareholders.

Its the other end of the scale this morning from spread-betting firm London Capital Hldg (LON:LCG). Interims here:
http://www.investegate.co.uk/london-capital-group--lcg-/rns/interim-results/201408270700260604Q/


Adjusted loss before tax* from continuing operations of £0.9 million (H1'13 profit: £2.9 million)

Loss before tax from continuing operations of £0.4 million (H1'13 profit: £0.1 million)

Revenue from continuing operations down 39% to £9.2 million (H1'13: £15.2 million)

Net cash and short term receivables, excluding amounts due to clients and £3.6m in settlement of FOS claims, down 11% to £16.5m (H1'13: £22.5m)


The gamble here is the new Executive Chairman, who has put millions in, will transform the business. Clearly, a large amount of transforming is required.

Another executive is going:
Also David Sparks, Chief Financial Officer, has informed the Board that he intends to leave LCG in order to take up an opportunity with another company.

There has been a very high turnover of executives…

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