TIDMAGA
3rd May 2012
AGA RANGEMASTER GROUP PLC
AGM AND INTERIM MANAGEMENT STATEMENT
AGA Rangemaster Group plc is holding its Annual General Meeting at 11am today
at which the following statement relating to the four month period to 28th
April 2012 will be made by the Chairman, John Coleman.
"2011 was a year in which the Group made clear cut progress through new
products and innovations and strengthened business processes.
In terms of current trading, I reiterate my comments made in the Financial
Statements that we went into 2012 expecting markets to remain tough and so we
are continuing to take effective measures to improve efficiencies and lower the
cost base.
The level of housing transactions in our core geographies remains subdued and
we do not foresee that trend improving in the near term. Therefore there has to
be a continuing focus on delivering new product and marketing initiatives. The
epitome of our product development work is the new programmable AGA Total
Control which is becoming established in the UK and is now available on the
Continent and in North America. From this we expect to see growth in AGA sales
- particularly as we add the additional feature of making the AGA remotely
controllable by smart phone and by text.
For the Group, overall orders are coming through as expected at around 2011
levels, with our largest brand by sales Rangemaster, performing steadily.
Amongst our other brands, Fired Earth is performing well but operations in
Ireland are much more subdued. With the Jubilee celebrations and Olympics
taking centre stage this year, we will see an international focus on all things
British. As true British brands pioneering heritage with innovation, we feel
AGA and Rangemaster are particularly well placed to impress both domestic and
overseas customers and so we continue to look to 2012 optimistically."
Enquiries:
William McGrath / Shaun Smith, AGA Rangemaster Group plc - 01926 455 731
Simon Sporborg / Charlotte Kenyon, Brunswick - 0207 404 5959
END
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