Aga to look overseas after revenue slide
Cooker specialist Aga Rangemaster has said it will focus heavily on building its international operations after a fall in sales.
In a trading update to the Stock Exchange, the Leamington Spa-based company said revenues for the year ending 31 December 2011 were close to £251m.
This represents a 3 per cent fall on its 2010 result, which directors described as "satisfactory given the caution of customers in the current economic environment".
Despite a drop in sales, profit before non-recurring items and tax is expected to be up, said Aga.
The company said it would forge ahead with growth plans. Chief executive William McGrath said a mix of new products and manufacturing processes would help it expand internationally.
Aga said it would now place "particular emphasis" on building its presence overseas.
"The group has recently launched a formidable range of products including the Aga Total Control that will drive us forward in 2012," said McGrath. "These products will be backed by commercial and operational efficiency gains that build firmly on the progress already achieved."
