Sign In
26 Aug 2009 09:57
ο»Ώ
Lincat Group plc ("Lincat" or "the Group")
Disposal ofΒ Mercury Lincat today announcesΒ that it has completed the saleΒ to AgaΒ RangemasterΒ GroupΒ plcΒ ("Aga")Β ofΒ the business and principal assets of Mercury Appliances Limited,Β itsΒ domestic range cookerΒ manufacturer. In the year toΒ December 2008Β Mercury made a pre-taxΒ loss of Β£130kΒ on a turnover of Β£1.8m.Β TheΒ Β£425,000Β proceeds of disposal are expected to more than cover the costs of exit from this business. Martin Craddock, Chairman: "Mercury has achieved much since it was launched by the Group in 2000 but we recognise that itΒ will enjoy better prospects and aΒ more secure future as part of a larger organisation such as Aga, whichΒ operates solely within the domestic applianceΒ market. I would like to pay tribute to the staff of Mercury and especially to Jenny Hyatt, Mercury's managing director, who will be taking the business forward under Aga's ownership."
26Β August 2009
Follow the stocks
