AGA.L Regulatory News (AGA)

AGA RANGEMASTER GROUP PLC - Trading Update

PR Newswire

London, January 10

FOR IMMEDIATE RELEASE

11th January 2013

AGA Rangemaster, the specialist in range cookers and kitchen living, todayissues a trading update ahead of its preliminary announcement of the resultsfor the year ended 31st December 2012 which will be announced on Friday 8thMarch 2013.

We expect profit before non-recurring costs, finance costs and tax again to beahead in spite of the continuing headwinds of weak consumer demand in the homemove and improvements markets which left cooker revenues slightly lower. FiredEarth and AGA Marvel both finished the year well. Overall revenues were down 2%as they were at the half year primarily because of declines in Ireland andcurrency movements.

2013 will see continued cost reduction measures in response to demand levelsand major steps to improve our position at Waterford Stanley in Ireland and atGrange which had a weak end to the year in North America.

Providing the Group with a firm financial foundation for the medium term was animportant accomplishment in the year. The new arrangements with the Group'spension scheme and agreement on new banking lines finalised in late November -both running through to the end of 2015 - mean that the work to position theGroup to achieve growth, irrespective of tough domestic markets, can comethrough.

We had a net cash balance of over £5 million at the end of the year despite theone off deficit payment and contribution payments into the pension schemetotaling around £20 million, as well as payments totaling more than £5 millionmade in respect of the German minority litigation case dating from the 1990s.

"Our great brands, tight cost control, product innovations and internationalmarket development programmes continue to sustain us against the headwind ofweak housing transaction levels - for which prospects are now somewhat better.We will be investing in our key brands to make sure 2013 is a more progressiveyear for the Group." William McGrath, Chief Executive, AGA Rangemaster Groupplc.

William McGrath, Chief Executive, AGA Rangemaster Group plc - 01926 455731Simon Sporborg / Charlotte Winsley, Brunswick Group - 020 7404 5959