Aga cooker firm returns to profit
The maker of the Aga cooker has returned to profit in the first half of the year, but has warned it does not expect a substantial profit rebound.
Aga Rangemaster reported a pre-tax profit of £16.4m in the six months to June, compared with a loss of £2.4m in the same period a year ago.
It said 2010 had been encouraging so far but said consumers remain cautious.
Revenues rose 5% to £123.4m, with 62% of sales from the UK, 23% from Europe and 15% from the rest of the world.
"We are moving into the key autumn selling season and the current level of leads across our brands does suggest a reasonable sales period ahead, although the consumer mood is currently more subdued than in the spring," the company said.
"Against a background where consumers remain extremely cautious about committing to larger-value purchases, we do not expect a substantial profit rebound."