Excelent update........

Interim Management Statement
PRNW


1st May 2013

AGA RANGEMASTER GROUP PLC

AGM AND INTERIM MANAGEMENT STATEMENT

ORDER BOOK PICKING UP AFTER SLOW START

AGA Rangemaster Group plc is holding its Annual General Meeting at 11am today
at which the following statement relating to 2012 and the four month period to
27th April 2013 will be made by the Chairman, John Coleman.

"The strength of our product offering and the efficiencies of our operations
increased further in 2012, but there was little respite to the long running
weakness of the consumer markets in which we operate. We are, therefore,
pleased that we were able to increase profitability once again even though
overall 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 ahead
as lead indicators and order intake levels, now level with last year, have
become more encouraging. In 2013, we expect increased appliance sales as
homeowners move and look to remodel assisted by the Government's encouragement
of greater availability of mortgages. This trend is already solidly established
in North America where AGA Marvel orders have risen appreciably.

For 2013 we have cost reduction measures already underway, most notably seen in
further rationalization programmes involving Waterford Stanley in Ireland and
Grange in North America. We are at the same time determined to allocate
resources to maximise the benefits from the product innovations of recent years
such as AGA Total Control, thereby allowing us to establish positions in
faster-growing markets where we can make use of the operational gearing
available within the business.

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

Enquiries:

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


END

StockMarketWire.com
AGA Rangemaster's revenues and operating profits rose in the six months to the end of June as markets improved. Increased pension charges and professional costs associated with the offer by Middleby resulted in a loss before tax of £4.0m (2014: £0.3 million).

Revenues rose 1.5% to £125.4m and operating profits were up 16.7% at £2.8 million for the half year (2014: £2.4 million).

The group's expectations for the full year operating profit remain unchanged. Net debt stood at £3.4 million at 30 June 2015 (2014: £2.4 million) reflecting higher investment in inventories given the order outlook.

Chief executive William McGrath said: "Our product investment programmes have ensured we are ready to benefit from the improving trading backcloth. Working with Middleby should provide additional momentum to enable our operations to thrive."