A "quiet UK market" meant that first half revenues and volumes at upmarket cooker maker AGA Rangemaster were slightly lower than last year.

Shares edged 0.2% lower to 112p on Friday morning.

However, the firm said that the six months ended 30 June were "solid", seeing growth in operating profit, despite subdued housing-related consumer expenditure.

While revenues and cooker volumes were off the mark, margins improved, particularly in parts of the group that had been weaker performers, AGA said.

The run rate of losses fell sharply at the firm's interior products brand, Fired Earth, after benefiting from the "decisive management action": "a clear plan with a strong incentive structure is in place to improve performance over the next three years".

Nevertheless, the group remains confident after the UK launch of the AGA Total Control oven, which is an "on when you need it; off when you don't"-type of cooker.

"AGA Total Control will bring renewed sales momentum for AGA in the second half of the year and is central to our strategy to grow cast iron cooker sales substantially," AGA said.

"In the current market we are pleased with our performance, strong cash balance and market leading positions. Looking forward we are excited about the growth opportunities for our new products led by AGA Total Control which epitomises our plans for the future," said chief executive William McGrath.

BC

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