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29th August 2008
Aga Rangemaster Group plc (“the Group”), which sells premium branded cookers and refrigerators, is pleased to announce its interim results for the half year ended 30th June 2008.
Highlights:
- Resilient trading results in the first half with continued top line growth.
- Underlying operating profits excluding property profits and profit before tax flat year-on-year.
- £140 million capital return completed following £265 million sale of foodservice operations.
- Strong and flexible balance sheet with net cash of £17 million at 30th June 2008.
- Dividend increased to 4.0 pence per share – increased for a seventh successive year.
“As Aga Rangemaster we have a strong family of consumer brands with a focus on the kitchen providing top class home economics. Our performance in the first half proved resilient. Having made disposals, returned cash to shareholders and still with net cash, the business base is strong. Our products - including exciting new ones such as programmable gas Agas, wood burning stoves and induction hob range cookers – are well attuned to the needs of today’s customers and we expect to emerge stronger and even better positioned following this current economic down cycle”.
William McGrath
Chief Executive
Full Press Release
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Enquiries:
William McGrath, Chief Executive 020 7404 5959 (today)
Shaun Smith, Finance Director 0121 711 6015 (thereafter)
Simon Sporborg / Charlotte Kenyon (Brunswick) 020 7404 5959
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