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Strategic and operational highlights
- Good progress made in the continuing business.
- Successful sale of Foodservice for £265 million.
- 121 pence per share cash return (£140 million) in addition to a final dividend of 7.65 pence per share (£8.8 million).
- Framework agreed with Group Pension Scheme Trustee for Scheme to reach a self-sufficiency funding position by 2020.
- Strategic focus centres on growth for cast iron cookers and development of the Rangemaster suite of kitchen appliances.
William McGrath, Chief Executive, commented:
“We have produced a sound performance in 2007 as well as delivering on a number of strategic initiatives, in particular the timely sale of Foodservice, the proposed return of £140 million of cash to shareholders and the appointment of John Coleman to be Chairman.
Looking forward, we have outstanding products and brands headed by Aga and Rangemaster. There is a clear plan to grow the business with measurable targets. The new ‘Love Aga’ campaign demonstrates the energy behind the relaunched business and we are confident of making further progress in 2008 and beyond.”
2007 Preliminary Results Press Release
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Enquiries:
William McGrath, Chief Executive 0207 404 5959 (today)
Shaun Smith, Finance Director 0121 711 6015 (thereafter)
Simon Sporborg/Charlotte Kenyon, Brunswick 0207 404 5959
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