A deal with television chef Jamie Oliver failed to stop half-year profits from falling by 66 per cent at pottery firm Churchill China.
Shares in the Stoke-on-Trent company fell three per cent in early trading after it revealed profits of £400,000 before tax and exceptional items, compared with £1.2 million in the same period last year.
The company had revealed in February it had taken over the licence to make tableware and mugs under the Jamie Oliver name.
Chairman Jonathan Sparey said the company had concentrated on product development since winning the licence and the revenue that this had generated in the first half has been minimal, but was expected to create “good sales” in the second half of 2009.
He added: “I am pleased to report that the group’s overall performance in the first half of the year has been in line with expectations for the half year to June 30.
“We remain on track to deliver expected profitability for the full year, which is, as normal, weighted heavily to the stronger second half.
“Whilst being cautious in relation to the impact of continued economic uncertainty in the short term, we remain confident in our business model, overall strategy and ability to create shareholder value.”
The tableware firm saw sales fall to £19.7 million from £20.3 million across the half year, after UK sales dipped nine per cent, to £7.2 million.
