Partly Cloudy

Partly Cloudy

max temp: 11°C

min temp: 9°C

Search

UK: Slow property and home improvements markets dent Aga sales

PUBLISHED: 11:27 11 January 2013 | UPDATED: 11:38 11 January 2013

AGA Rangemaster's revenues were 2% down for the year to December 31

AGA Rangemaster's revenues were 2% down for the year to December 31

RANGE-style cooker specialist AGA Rangemaster said today that pre-tax profits for 2012, excluding exceptional costs, would come in ahead of the previous year, despite “continuing headwinds”.

Weak consumer demand in the home move and home improvements markets had left cooker revenues slightly lower, with overall revenues down 2% at the year-end as they had been at the half-year stage.

However, the company said the decline was primarily down to declines in Ireland and currency movements.

New arrangements with the group’s pension scheme and agreement on new banking lines finalised in late November would help the group position itself for growth, irrespective of tough domestic markets, with 2013 seeing continued cost reduction measures.

There was a net cash balance of more than £5million at the end of the year despite the a one-off deficit payment and contribution payments into the pension scheme totalling around £20m.

“Our great brands, tight cost control, product innovations and international market development programmes continue to sustain us against the headwind of weak housing transaction levels - for which prospects are now somewhat better,” said chief executive William McGrath.

“We will be investing in our key brands to make sure 2013 is a more progressive

year for the Group.”

Search hundreds of local jobs at Jobs24

Audit, tax and consulting firm RSM has appointed Laragh Jeanroy as the new managing partner of its 122-strong Bury St Edmunds office from October 1.

The company which runs Foxhall Stadium in Ipswich has been ordered to pay £118,000 after it admitted breaching four health and safety standards which jeopardised public safety.

Businesses from across north Essex have helped boost a fund to raise money for a youngster with a rare form of muscular dystrophy by more than £2,300.

A scheme designed to boost business and jobs in designated areas has been backed by the government.

A Norwich-based data centre has crossed county lines by teaming up with an Ipswich IT firm to protect its business in the case of a cyber-attack or disaster.

Management Jobs

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24