19th November 2012
FOR IMMEDIATE RELEASE
AGA RANGEMASTER GROUP PLC ("AGA RANGEMASTER")
INTERIM MANAGEMENT STATEMENT
AUTUMN SALES SEASON NOW SHOWING ENCOURAGING SIGNS
AGA Rangemaster, the range cooker and kitchen living specialist,
today issues an interim management statement for the period from
1st July 2012.
After a late start to the autumn season, trading for our major
brands has shown some encouraging signs. The trend that saw AGA
volumes up 4% at the half year has continued. The recent addition
of the programmable 5-oven iTotal Control and developing more
effective international dealer structures should help maintain
momentum. Rangemaster continues to show its strength as a market
leading kitchen appliance brand with growth on the continent
off-setting UK market weakness. Conditions in Ireland remain tough and sales there are
stabilising at levels appreciably below last year.
Fired Earth has sustained its like-for-like improvement with
orders up over 8% led by a strong performance in tiles and is
trading at close to break-even for the year.
In North America AGA Marvel continues to make progress and new
market opportunities indicate an appreciably better 2013.
Grange, available in over 40 countries worldwide, has seen its
performance negatively impacted by its USA operation. A further rationalisation
programme is in process to improve performance there.
The new financing arrangements for the Group's Pension Scheme
are close to finalisation and will provide medium term clarity and
stability for all stakeholders. A further update will be provided
in due course.
Work is going well in preparation for the 2013 launch of our
products in China by our partner,
Vatti, and for the launch in Europe of their products.
William McGrath, Chief Executive
of AGA Rangemaster Group plc commented: "This is a sound trading
performance for the Group. The progress of our product offering and
the expected finalisation of the pension financing arrangements
combine to give an air of optimism for 2013."
Enquiries:
William McGrath, Chief Executive,
AGA Rangemaster - 01926 455731 Simon
Sporborg / Charlotte Kenyon,
Brunswick Group - 020 7404 5959