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AGA Rangemaster Group Plc trading update

Published 20 November 2014

AGA Rangemaster, the range cooker and kitchen living specialist, today issues a trading update for the period since 30th June 2014.

Our UK operations are performing well. The better trend line in sales across key areas of the Group during the year has been maintained into the autumn. The response to our AGA campaign, led by the AGA City60, has broadened our addressable market. For Rangemaster, UK sales growth has been central to a good performance. Our Marvel refrigeration operation is seeing strong growth and our new generation of premium refrigerators, complying with new regulations, has reset sector standards. Fired Earth has seen high teen order growth this year and profits are well up.

Trading in Europe continues to be more mixed and consumers remain cautious in their spending. In particular, performance from Grange, the French-based furniture operation, and Waterford Stanley, the Irish stoves led business, continues to be weak. This tempers the overall growth the Group will achieve this year.

The Group has renowned brands and we have modernised our ranges for today's consumer taste. Closer international commercial partnerships are under consideration to drive the benefits from these introductions more quickly.

William McGrath, Chief Executive commented : "We have made winning product introductions and the progress made in our major appliance brands, led by AGA, Rangemaster and Marvel refrigeration, is encouraging. That will be amplified as work to turnaround our remaining brands' performances is completed."

Source: Company Press Release