AGA.L Regulatory News (AGA)

AGA RANGEMASTER GROUP PLC - Interim Management Statement

PR Newswire

London, April 30

AGA Rangemaster Group plc is holding its Annual General Meeting at 11am todayat which the following statement relating to 2012 and the four month period to27th April 2013 will be made by the Chairman, John Coleman.

"The strength of our product offering and the efficiencies of our operationsincreased further in 2012, but there was little respite to the long runningweakness of the consumer markets in which we operate. We are, therefore,pleased that we were able to increase profitability once again even thoughoverall revenues fell slightly.

So far this year, the modest overall turnover declines of 2012 have continued.We do not take the slow start to the year as indicative of the full year aheadas lead indicators and order intake levels, now level with last year, havebecome more encouraging. In 2013, we expect increased appliance sales ashomeowners move and look to remodel assisted by the Government's encouragementof greater availability of mortgages. This trend is already solidly establishedin North America where AGA Marvel orders have risen appreciably.

For 2013 we have cost reduction measures already underway, most notably seen infurther rationalization programmes involving Waterford Stanley in Ireland andGrange in North America. We are at the same time determined to allocateresources to maximise the benefits from the product innovations of recent yearssuch as AGA Total Control, thereby allowing us to establish positions infaster-growing markets where we can make use of the operational gearingavailable within the business.

AGA sales to be up this year, particularly in international markets; a returnto profit at Fired Earth and success for a broadening offering from Rangemasterare the key themes for 2013. Newly established commercial links, like that withVatti in China, the gas burner company, will add to the pace of improvement. Inour established markets we have the right products and structures in place andwe will benefit as confidence in the housing market returns."

Enquiries:

William McGrath / Shaun Smith, AGA Rangemaster Group plc - 01926 455 731Simon Sporborg / Charlotte Winsley, Brunswick - 0207 404 5959