Aga cooks up £2.9m profit
Operating profit at iconic stove manufacturer Aga Rangemaster has shot up from £800,000 to £2.9m, the company revealed this morning.
The Leamington Spa-based company said operating profit soared over the million-pound barrier in the six months to 30 June.
It attributed the £2.1m increase in large part to "the streamlining of processes" introduced in the last couple of years.
Net cash at 30 June was £25.2m, a slight increase from its 2010 result of £22.4m.
The company said an autumn launch of new products should boost tough winter sales in the coming months.
William McGrath, chief executive, said: "Whilst recent events suggest an even tougher autumn ahead, the second half should see the impact of newly launched products gather pace.
"Most significantly the AGA Total Control will be a factor in driving UK sales performance and its European launch is scheduled for this autumn."
Revenue was down from £123.4m in 2010 to £121.4m in Aga Rangemaster's latest results.
Over the past year, the company has opened seven dealer stores in the Middle East and Asia.
