Something’s cooking as Aga sales improve

Aga Rangemaster’s recent launches have included its iTotal Control models, which can be controlled remotely by smartphone and cost from about £10,000.

The cookers were launched in May and Aga recently added a larger five-door version to the range.

Its key autumn selling season got off to a slow start because of the Olympics, but since then chief executive William McGrath said the trends that saw Aga’s volumes rise 4 per cent in the first six months of 2012 have continued.

He added: “After a late start to the autumn season, trading for our major brands has shown some encouraging signs.”

Shares jumped 10 per cent yesterday amid hopes that Aga Rangemaster is now on the recovery trail, having suffered during the UK’s double-dip recession as people reined in spending on big ticket items and mortgage approvals dried up.

The company, whose other businesses include the Rangemaster cooker range and wall and floor tiles specialist Fired Earth, is expected by City analysts to grow its profits by 17 per cent to £7m this year.

It has offset some of the pressure in the UK and Ireland by developing international dealerships as it targets emerging markets such as China.

The Leamington Spa-based group added that new financing arrangements for the group’s pension scheme were close to finalisation and would provide ‘medium term’ clarity.

In the summer, Aga said it would not pay a dividend to shareholders as part of an agreement reached over future pension contributions.