Aga sales fall warning
Monday 20th October 2008, 9:25AM BST.
The Shropshire-based maker of the Aga cooker became the latest firm to feel the consumer chill today as an ailing housing market took a worsening toll on trading.
Aga Rangemaster, which is based in Telford and also has a manufacturing base in Coalbrookdale, issued a profits warning after product orders slumped by 15 per cent.
The group said: “We have increased market share but the market itself has been affected by the fall in the number of housing transactions and order levels have recently been significantly below last year.”
This is set to leave second-half operating profits “appreciably below” the £9 million seen in the first six months of 2008.
The 15 per cent decline represents a deepening of the slowdown reported two months ago when orders fell five per cent over the summer.
Sales of “big-ticket” items such as cookers, washing machines and fridge freezers are seen as most at threat from a property slump as fewer home sales reduces demand.
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
Entertainment
All the film reviews
Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
