Aga weathers storm with profits growth
The maker of the iconic Aga cooker grew profits 12% last year as its "most determined efforts" helped it tackle weak consumer conditions.
Revenues fell 2.5% to £244.6 million and the sale of 10,300 cast iron cookers was well down on the boom years of 19,600 but Aga Rangemaster said new ranges and the targeting of export markets meant it weathered the storm.
Profits at the Leamington Spa-based company rose to £8.4 million and the company expects greater impetus in the coming months after an encouraging month of trading in February.
Chief executive William McGrath said: "2012 was a year which required the most determined efforts to achieve profit growth. While a market upturn in the near future is unlikely our prospects are good."
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