US spending dip cools Aga
13 April 2012
AMERICAN consumers' new-found reluctance to spend took the shine off Aga Foodservice today as the upmarket ovens group reported a collapse in profits from its North American division.
Reporting half-year pre-tax profits down 6% at £10.9m, Aga said profits halved at its US kitchens retailer Domain, which also accounts for about 8% of sales of Aga ovens.
However, the core Aga branded ovens business remains on track to sell 10,000 units this year. The interim dividend is rising 16% to 2.2p.
