Premium appliance maker AGA Rangemaster said it saw a seasonal pick up in activity during the key 2010 autumn sales period and expects to report results in-line with its previous expectations through to the end of 2010.
In an interim management statement for the period from July 1, 2010 to Nov. 18, 2010, said this makes a 2010 a year of revenue recovery for the company.
The Rangemaster brand is described as a successful, growing brand and is set to be the principal contributor to the group’s performance in 2010. Rangemaster brand is credited with cooker volumes up over 5%, growth in exports to 25% of cooker sales’ volumes, and the addition of products that complement the cooker. These products account for an addition of 30 pence to every £1 of revenue in the UK from sales of Rangemaster cookers themselves. Growing sales of induction cookers, the introduction of the 100 cm width model, and the success of Rangemaster's UK Design Centres all contributed to growth.
The Aga brand saw volumes climb around 5% this year. The company's brands Rayburn and Stanley have however, seen decreases in volumes. AGA Rangemaster said it expects to turn those brands around in 2011 with updates to its lines of all-in-one cooker boilers is completed. These upgraded products tie in with AGA Rangemaster's focus on home energy management. The company already launched an energy management center in Kidderminster, UK, to manage the energy efficient operation of heat from solar thermal and wood-burning stoves and Rayburn products.
The company's autumn sales of stoves in Ireland were led by the new Irish designed and made Cara insert stove, engineered to be 3 times more energy efficient than an open fire. Order levels are high and AGA Rangemaster expects to achieve record stove volumes in Ireland in 2010.
Company sales in North America slowed again in the fall of 2010 after a better first half, which the company believes reflects the extremely low levels of housing transactions.
Fired Earth’s volumes are marginally ahead year-on-year but it is still operating at a loss.
"We continue to strengthen our range cooker portfolio and the product pipeline is excellent. Yet tough housing market conditions dictate caution," said company Chief Executive William McGrath. "Recent research we commissioned shows range cookers are on trend and aspirational and for many move the heart of the home from the living room to the kitchen. As we are focused on range cookers and kitchen living these trend lines provide confidence in our prospects.”
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