| Sales bounce back for Aga |
By: Rebecca Hubbard
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Posted: Friday, August 27, 2010 3:52 pm
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After an increase in sales volumes boosted by customers upgrading their existing models as well as upgrading burner systems, the Aga brand's sales have rebounded in the first half of the year.
Thanks to the results, the Aga Rangemaster Group is optimistic, saying that the current level of sales leads and retail footfall anticipates a continuing improvement for the rest of the year.
Despite the positivity, sales of Rayburn and Stanley, the group's all-in-one cooker-boiler brands, were down, as consumer enthusiasm for solid fuel and wood burning models similarly declined.
The Rangemaster brand, however, also revelled in a strong performance for the first half of the year, with a 10% increase in revenues and a boost in profitability thanks to the company's Leamington Spa factory.
Aga Rangemaster explained that selling prices were up as well as there being a shift towards higher specification products despite cooker volumes in the UK being flat.
Recorded revenue for the group was £123.4m for the first half to June 30, which was a 5% from last year. Profit before tax was £16.4m.
Aga Rangemaster's directors are so happy with the results that they have opted to introduce an interim dividend of 0.7p per share. |
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