Business

Aga cooker firm returns to profit

Aga kitchen
Image caption Aga said customers were cautious of making larger value purchases

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."

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