Strategic and operational highlights
- Cash balances increased to £28.0 million from £5.8 million in
the year reflecting the emphasis placed on strong business
processes, good working capital management and on cash
- The Group made a profit before tax in an extremely tough year for its core product lines internationally.
- Markets improved as the year progressed. Rangemaster orders were up in the year whilst AGA cooker orders were ahead in the last quarter.
- New products backed by strong commercial offers are designed to maintain the momentum established at the end of 2009.
- The Group expects to contribute an additional £2 million this year and next to the Group's pension scheme.
William McGrath, Chief Executive commented: "The generation
of cash was the big achievement of 2009 and that remains the focus
given the caution needed in the current market. Our lead
indicators, however, are positive and after a slow order intake at
the start of the year, the prospects are encouraging heading into
2009 Preliminary Results Press
William McGrath, Chief Executive 0207 404 5959
Shaun Smith, Finance Director 01926 455 731 (thereafter)
Simon Sporborg / Charlotte Kenyon, Brunswick 0207 404 5959