TIDMAGA 
 
15th January 2015 
 
FOR IMMEDIATE RELEASE 
 
                 AGA RANGEMASTER GROUP PLC ("AGA RANGEMASTER") 
                Resources to be focused on appliance expansion 
 
AGA Rangemaster, the range cooker and kitchen living specialist, today provides 
an update on trading through to 31st December 2014 and on some strategic 
initiatives for 2015. 
 
Trading 
 
Revenues were up over 4% on 2013 and order intake was higher, notably in the 
UK. Operating profits and the net cash balance at the year-end were above the 
prior year. 
 
The core UK cooker brands, AGA and Rangemaster saw orders grow in the UK by 
around 10%, boosted by new product introductions such as the AGA City60 and 
Rangemaster 60. We had been looking for further improved sales momentum and 
lead levels indicate that this will come through. 
 
In North America, AGA Marvel, with its new generation of refrigeration products 
that have reset sector standards, saw double digit revenue growth for the 
second year running. 
 
Fired Earth has strengthened its position as the UK's premier tile retailer and 
had an excellent year with sales up 16% to over GBP27 million. Online sales - as 
for AGA Cookshop online - grew strongly. 
 
Such progress has been tempered by trading in Europe, where customers remain 
cautious in their spending because of economic conditions. Waterford Stanley, 
the Irish stoves led business, and Grange, the French-based furniture 
operation, have been particularly affected by low demand. 
 
Corporate Developments 
 
The Group's strategy is to focus on the expansion of its core cooker and 
refrigeration brands in the UK and international markets. 
 
The performance and prospects of Fired Earth are now encouraging. In January 
2015 the Group used a pre-existing arrangement, dating from 2011, to acquire 
one-third of the management's 20% shareholding in Fired Earth for a net 
consideration of GBP1 million. The Group is now looking at when it is best to 
realise value from Fired Earth for shareholders. The Group is also examining 
options for its loss making furniture operation, Grange. 
 
Rothschild has been appointed as corporate finance advisers to the Group. 
 
William McGrath, Chief Executive, said: 
 
"We have seen continued growth from our core cooker brands AGA and Rangemaster. 
Fired Earth and AGA Marvel did very well. We remain focused on expanding our 
product offering and distribution network at home and overseas. Market 
conditions suggest 2015 will be a better year for the appliance segment and we 
are working to configure the business best to take the opportunities that 
arise." 
 
 
Enquiries: 
 
William McGrath, Chief Executive, AGA Rangemaster - 01926 455731 
Nina Coad / Venetia Hendy, Brunswick Group - 020 7404 5959 
 
 
 
END
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