6th March 2015

FOR IMMEDIATE RELEASE

AGA RANGEMASTER GROUP PLC

2014 FULL YEAR RESULTS

2014 PROVIDES SOUND TRADING BACKDROP FOR STRATEGIC INITIATIVES

AGA Rangemaster Group plc ('the Group'), the specialist in range cooking and kitchen living, is pleased to announce its full year results for the year ended 31st December 2014.

Financial highlights

  • Revenues of £261.1 million (2013: £250.4 million) were up 4.3% for the year : 5.7% in constant currency and 5.1% in the second half.
  • UK revenues were up 8.5% at £171.5 million.
  • Operating profits of £9.6 million (2013: £8.2 million) were up 17.1%.
  • Profit before tax of £0.7 million is after £3.3 million to account for Fired Earth fair value increase.
  • Net cash balances at 31st December 2014 were £9.2 million (2013: £5.9 million).

Strategic and operational highlights

  • AGA heat storage cooker volumes grew 9%.
  • Rangemaster sales grew by 9% in the UK and by 6% overall.
  • Fired Earth and AGA Marvel in North America saw revenue increases of over 10% contrasting with revenue falls for Waterford Stanley in Ireland and for French-based Grange furniture lines.
  • Pursuing strategy to become a focused premium international appliance operation.

Click here to download the full press-release.

Enquiries:

William McGrath, Chief Executive
Shaun Smith, Finance Director
Simon Sporborg / Nina Coad (Brunswick)

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