Newspaper article The Journal (Newcastle, England)

Tory Win Prompts Surge in Demand for Cookers

Newspaper article The Journal (Newcastle, England)

Tory Win Prompts Surge in Demand for Cookers

Article excerpt

UPMARKET consumers flocked to buy Aga cookers after the Tory election victory earlier this year as they abandoned pre-poll caution, it was revealed today.

The cookers' maker, Aga Rangemaster, said they had seen a slow start to 2015 for sales but there had been a "marked change in attitude" after May's vote.

It added that its Rangemaster lines benefited from greater consumer confi-dence as well as higher incomes feeding through to more spending on the home and house moves.

The firm reported a 1.5% increase in revenues to PS125.4 million for the six months to the end of June as it prepares to be taken over by US kitchen equipment firm Middleby in a deal set to complete next month, valuing Aga at PS129m.

Operating profits were up 16.7% to PS2.8m but bottom line pre-tax profits for the half-year widened from PS300,000 to PS4m thanks to a higher pension charge and the PS3m cost of advisers on the takeover deal.

Chairman John Coleman said: "The year started quite slowly for Aga cooker sales with consumers continuing to be cautious. …

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