Aga adds exotic flavour to recipe

POSH cookers maker Aga has overcome worries over a consumer slowdown with an increase in profits and is planning to expand further overseas.

Chief executive William McGrath said: 'We are pleasantly surprised at the way the business has progressed and are confident of meeting full-year profits of £34m.'

The company reported pre-tax profits of £11.6m in the six months to 30 June, against £10.7m during the same period last year. Turnover jumped to £143.7m from £96.1m a year earlier. During the period, it purchased Domain, a home fashions business, and Belshaw, which manufactures commercial doughnut-making equipment.

Aga opens its third and biggest British store tomorrow in Cobham, Surrey. In line with its global expansion plans, Aga yesterday purchased a 27% stake in Grange, the French furniture retailer, for e5.5m (£3.5m). The group has a further war chest of £82m to fund acquisitions in the commercial food services sector across continental Europe. Shareholders collect an interim dividend of 1.9p, up from 1.7p last time.