AGA Foodservice, the oven and fridge manufacturer, announced today that it was considering the sale of its US business.
The group said Domain, the US-based high-end home furnishings business it bought in 2002, made a loss of £2.8m in 2006. AGA said it was considering with local management a number of strategic options for the Domain business.
Turning to trading over the last year, the group said both core consumer and foodservice operations performed well, driven by strong product development programmes.
“The good progress in sales and profits achieved by the group over recent years continued during 2006. Above trend order intake in the final quarter suggests momentum can be maintained into the New Year,” added AGA in a statement.
Aga continues to perform well with order intake up 5% in 2006, said the group while Waterford Stanley in Ireland also enjoyed a strong year. The Rangemaster business also had an excellent second half with total orders 10% ahead of last year.
From ShareCast