New ranges fuel Aga record year

AGA Foodservice, maker of the famous range cookers, today reported a record year for its European operations, fuelled by its new-product launches.

The company has created a host of new cookers, wine-chilling cabinets and deep-fat fryers, which are flying off the shelves despite their high prices.

Star performers in the group's consumer division are the three-oven and electric ranges.

Yet another series of products will be launched next year under the French La Cornue brand, beloved by customers including Jacques Chirac and Silvio Berlusconi as well as actor Brad Pitt.

Meanwhile, its Fired Earth tiles and bathrooms division has seen like-forlike sales gain 6% over the past year.

Analysts are expecting the company to post full-year results of £37m, up from £35.9m last year.

Broker Dresdner Klienwort Wasserstein has upped its price target from 250p to 277p as it retained its 'add' advice. It said the trading statement is broadly encouraging with ongoing strong growth in the core brands of both Aga and Rangemaster.