AGA Cooker Firm Eyes International Growth
The company behind the iconic range of AGA cookers has posted a 3% drop in revenues but has insisted that it can return to pre-depression levels of trade.
AGA Rangemaster is hoping that at least 50% of its profit can be gained from overseas markets, compared to the 37% last year, as it believes its products are better suited to the international market.
11,000 cast iron cookers were sold in 2011, which was a drop of 6% on the previous year. Despite the latest decline in sales, AGA Rangemaster believes that it can restore cast iron cooker sales to 2007 levels of 19,600.
Despite the fact that the overall sales volume of cookers was only around 62,000 in 2011, a good level of demand from France has fuelled hopes that AGA services will be able to drive export orders up.
AGA has managed to weather a downturn in sales by implementing a range of cost efficiency measures made between 2008 and 2010. Even though revenue dropped by 3% to £250.9 million, operating profits rose from 16% to £18 million, but there are no details on the profit returned from AGA Rayburn servicing.