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Aga Predicts Flat Sales; to Change Company Name
May 12, 2008
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Aga Foodservice Group Plc, the U.K. maker of country-style stoves, said first-half domestic revenue from cast-iron cookers will be flat and sales in Ireland will fall on dropping consumer demand.
 
“After a bright start, our cast-iron cooker sales are expected to be flat in the U.K. in the first half and down in Ireland where the market is very weak,” the company said.
 
Aga sold its commercial-catering gear unit, which accounted for almost half of sales, in December to focus on its Rayburn, Rangemaster, and Aga consumer brands. The company said that orders of the company’s Rangemaster brand cookers have risen more than 5% this year. Buying more components from Asia and Eastern Europe will help offset rising commodity-price increases and widen return on sales to 12%, Aga said.
 
Separately, the company said it plans to change its name to Aga Rangemaster Group Plc, effective immediately.
 

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