Aga reports production cut amid sales fall
Saturday 9th May 2009, 10:50AM BST.
Shropshire kitchen equipment firm Aga Rangemaster has seen a 20 per cent fall in orders over the first four months of this year shareholders were told at it’s annual meeting.
The company, which has bases in Ketley and Coalbrookdale making Aga and Rayburn ovens, said it was cutting back on production in a bid to keep costs down, but said it had high hopes for a planned series of strong promotional campaigns.
Aga Rangemaster admitted the past year had been one of the most difficult in its recent history.
In a statement read out to the meeting, the company said: “2008 was a year in which we delivered sound operating profits, developed our market leading brands and maintained a net cash position despite increasingly difficult markets.
“Economic conditions remain testing and unpredictable but we continue to act decisively. Against this background, our Rangemaster operations continue to trade satisfactorily and to grow market share.”
The company said its Aga division had seen the level of enquiries stabilise, but admitted order levels were currently well down on prior years.
The statement added: “Orders overall in the period were down over 20 per cent on the same period last year and we continue to cut back on production and to implement cost saving measures.”
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