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AGA Rangemaster Reports Increased Revenues in 2013
Apr 11, 2014
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UK-based appliance maker AGA Rangemaster Group had revenues of 250.4 million British pounds in full-year 2013, up 2.4% from 244.6 million in 2012.

Operating profits were 8.2 million British pounds in 2013, up 26.2% from 6.5 million British pounds in 2012.

Profits before tax but after non-recurring costs, pension charges, and finance costs were 1.1 million British pounds, compared to a revised figure of 1.7 million British pounds in 2012.

Among the company's 2013 highlights:

• AGA brand cooker sales volumes grew 10% in 2013, with electric cooker models now making up 70% of sales.
• Orders for Rangemaster brand products were up slightly from 2012; orders for other group cooker brands were, overall, slightly lower.
• Sales for Fired Earth brand home decorative products were up over 5% in 2013 and the group said order intake has accelerated.
• Revenues from Grange, the groups French furniture brand, were down 8%.

The company's 2014 new product programs will show portray the range cooker appliance as an urban product, and a distinctive alternative to built-in models.

The group has received its first accreditations for new Rangemaster brand products designed for the Chinese market. The product launch is being prepared.

"The tide turning in the housing market proved pivotal and we will benefit as the number of house moves increase," said William McGrath, Chief Executive. "As revenues start to grow, with capacity available and with new products and a widened targeted customer base, we are confident of good progress in the year."

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