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

01 May AGA Rangemaster... AGA Espirito Santo Execution Noble Buy 78.63 78.50 95.00 95.00 Reiterates

SP TARGET 95p.

Bouncing off 200 day EMA. Should do well with improved housing market.

Full Year Results

AGA Rangemaster Group plc ('the Group'), the specialist in range cooking and kitchen living, is pleased to announce its full year results for the year ended 31st December 2013.

Financial highlights

· Revenues of £250.4 million (2012: £244.6 million) were up 2.4% for the year; growing 4.4% in the second half.

· Operating profits of £8.2 million (2012: £6.5 million) were up 26.2% indicating operational gearing benefits.

· Profit before tax after non-recurring costs, pension charges and finance costs was £1.1 million (2012 restated: £1.7 million).

· Balance sheet remains strong with total equity of £120.7 million (2012: restated £119.9 million) and net cash of £5.9 million (2012: £5.5 million).


Strategic and operational highlights

· AGA cooker sales volumes grew 10% in 2013 with electric cooker models now representing 70% of sales.

· Rangemaster orders were just ahead of the prior year, while the other cooker brands overall were slightly lower.

· Fired Earth sales were up over 5% in 2013 and order intake has accelerated further. Grange revenues were down 8%.

· Our new product programmes in place for 2014 show the range cooker as an urban product where it is a distinctive alternative to the built-in models.

· First accreditation received for new Rangemaster product designed for Chinese market. Launch now in preparation.

Numis Add 178.75 173.00 - 200.00 Reiterates

Half Yearly Report

Financial highlights

· Revenues of £123.5 million (2013: £119.5 million) were up 3.3% for the half year - up 9.7% in the UK.

· Group operating profits were up 60% to £2.4 million for the half year (2013: £1.5 million). Our expectations for full year 2014 operating profit remain unchanged with performance expected to be well ahead of last year (full year 2013: £8.2 million).

· Group on track to show strong profit before tax growth (after pension and finance costs) for the full year. The first half loss before tax fell to £0.3 million from the loss of £2.4 million in the first half of 2013.

· Net debt reduced to £2.4 million (30th June 2013: £6.0 million) reflecting increased cash generation.

Operational highlights

· AGA continues to make good progress with sales and orders significantly up. New products are performing well with over 60% of orders in the first six months from products launched in the last three years.

· Rangemaster is seeing activity levels continue to increase with sales volumes up over 10% in the UK.

· New product launches in the second half, including AGA City60 and Rangemaster 60, are expected to contribute to further sales momentum.

· Fired Earth and AGA Marvel in North America are performing strongly while Waterford Stanley in Ireland and Grange in North America continue to experience challenging trading conditions.

2014 Full Year Results

Financial highlights

· Revenues of £261.1 million (2013: £250.4 million) were up 4.3% for the year : 5.7% in constant currency and 5.1% in the second half.

· UK revenues were up 8.5% at £171.5 million.

· Operating profits of £9.6 million (2013: £8.2 million) were up 17.1%.

· Profit before tax of £0.7 million is after £3.3 million to account for Fired Earth fair value increase.

· Net cash balances at 31st December 2014 were £9.2 million (2013: £5.9 million).

Strategic and operational highlights

· AGA heat storage cooker volumes grew 9%.
· Rangemaster sales grew by 9% in the UK and by 6% overall.
· Fired Earth and AGA Marvel in North America saw revenue increases of over 10% contrasting with revenue falls for Waterford Stanley in Ireland and for French-based Grange furniture lines.
· Pursuing strategy to become a focused premium international appliance operation.

StockMarketWire.com
US kitchen products company Middleby has agreed a £129m takeover of AGA Rangemaster.

The recommended cash offer of 185p per share represents a premium of 77% to the closing price of 104p on 16 June, the last day before the start of the offer period, and a 22% premium to last night's closing price.

Middleby chairman and chief executive Selim Bassoulsaid: "The addition of AGA's world class brands, product range and manufacturing capability to our existing portfolio will further strengthen Middleby's global reach and enhance our position as a leader in the premium segment for residential kitchen equipment.

"This acquisition will expand Middleby's local manufacturing platform and significantly increase our presence in the UK market. We believe this transaction will provide meaningful growth opportunities as we leverage AGA's existing sales, service and manufacturing capabilities with Middleby's market expertise, product innovation and well established global distribution network."

AGA chairman John Coleman said: "The board of AGA has been assessing the development opportunities for the business for some time and in January 2015 appointed Rothschild to help in the process. With the major product development programmes of recent years now largely completed, the Board has sought to identify the commercial triggers that have the potential to bring more rapid growth.

"Middleby provides a larger scale framework including an established international structure to deliver fully on the potential of the business. The financial strength of Middleby also achieves a better balance with AGA's pension obligations - which are large in relation to the existing business and which have become a significant constraint on the progress of the Group."

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."