British cooker and refrigerator manufacturer AGA Rangemaster plc has said it saw a seasonal upturn in activity since June-end and expected a second-half pretax profit.
The company, whose cast iron ovens grace the homes of actress Kate Winslet and TV chef Jamie Oliver, said order levels in key areas were above those of late 2008 and the first half of this year, but continued to be below those of two years ago.
“An improving mood in the housing market and consumer enthusiasm for our core products is evident in the brighter sales outlook this autumn,” Chief Executive William McGrath said in a statement.
The company expects to exceed its target of cash in the bank at the end of this year, helped by working capital reductions.
It had planned to exceed the 5.8 million pounds it had at the beginning of the year.
The company said it expected to integrate its AGA and Rangemaster operations in the UK by the first half of 2010.