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Date: Friday 29 Aug 2008

LONDON (ShareCast) - Trading during the first half has been “resilient” at refrigerator and cast iron cooker group Aga Rangemaster, although profit remained flat on the year before.

Bosses said they recognise that consumer markets are likely to remain challenging as they reported a 5% drop in order intake over the summer.

“Headed into the typically busy autumn season, we have products and marketing initiatives relevant to current consumer priorities and believe that the strengths of our brands mean that we will be well placed as the economic cycle evolves,” added the firm.

Profit before tax for the half year ended 30 June stayed at £12.3m on revenue up just under 2% at £145.1m.

First half volumes were unchanged at the Rangemaster kitchen appliances business where the firm hopes to grow sales beyond 76,000 cooker sales a year, the level reached in 2007. Revenue rose 5%.

A big drop in volumes in Ireland was offset by rising demand in France, but volumes also fell at US undercounter refrigeration company Marvel.

The dividend goes up to 4p a share from 3.85p last time.

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