Aga profits cool as sales fall
Tough trading conditions in the UK and Ireland saw Aga Rangemaster announce that its first-half profits dropped from £2.1m to £1.5m on sales down 1 per cent at £119m. The cast-iron oven maker revealed it was scrapping its dividend in order to bolster its pension fund, while also launching its first five-oven cooker.
A bumpy ride for Stobart Group
Trucking firm Stobart Group admitted recent trading within its transport division – which provided 80 per cent of total profits during its last financial year – had been lower than expected. The owner of Eddie Stobart said it had been hit by the recession, weaker demand for its services during the Olympics and the bad summer weather.