Chairman's AGM Statement
11 Agosto 2000 - 2:00AM
UK Regulatory
RNS Number:3084P
Range Cooker Company PLC
11 August 2000
THE RANGE COOKER COMPANY PLC
("The Range Cooker Company" or "the Company")
(One of the largest suppliers of quality domestic cookers in
the UK)
Chairman's AGM statement: buoyant start to the year and well
positioned for future
The Range Cooker Company will be holding its Annual General
Meeting in Blackpool later today and, whilst commenting upon
the Company's positive trading in the first quarter of the
current year, John Armstrong, Chairman, will make the
following statement:
"Trading in the current year has started well and the growth
pattern shown in May and June, when sales were 12.8% ahead of
records set last year, continued into July and I am pleased to
reveal that sales in the first quarter were 16% up on last
year. Many upgrades have been made to the Britannia range
over the past few months and all new products have been well
received by the market. Sales of these are expected to
continue to grow and many of the improvements have been
incorporated into the Majestic range of cookers, also being
manufactured by the Italian group ILVE S.p.A. Deliveries of
these high quality, special order cookers commence in
September and early indications are very positive.
"The Range Cooker Company will be selling the Morice range of
cookers, each of which are individually hand-built to order in
France, alongside the Majestic and will be targeted at the
very pinnacle of the range cooker market. Working with Morice
(the company) is a long-term project for us allowing us to
build upon a platform and so address an expanding market
sector. Many different examples of the Company's products -
the Britannia, Majestic and Morice - are on show for viewing
to the general public at our showroom in Blackpool and the
London showroom at The Building Centre, Store Street.
"The Company's financial strength, backed by the long term
exclusive supply agreement we have with ILVE, the strong
market position of the Britannia and the introduction of the
Majestic and Morice ranges leave us well positioned and I am
confident that we shall be able to report record results at
the end of the current financial year."
For further information contact:
John Armstrong (Chairman)
The Range Cooker Company plc 01253 471123
Brian Coleman-Smith / Simon Ellis / Amanda Sheehy
Binns & Co. Public Relations 020 7786 9600
Background note
1. The Range Cooker Company's shares are traded on AIM
having gained admission in November 1997 by way of a placing
at 5p a share.
2. The Britannia product range offers a number of different
sizes from 60cm single oven models to the larger 90cm (single
and twin ovens), 100cm, 120cm and 150cm twin oven widths.
Sales are predominantly in the larger models, price range from
#1,200 to over #5,000. These models are sold through over 450
retail outlets in the UK and Ireland. Sales are balanced
through retailers such as John Lewis Partnership, Harrods,
specialist appliance retailers and kitchen specialists.
3. The Majestic range offers over 700 models ranging in size
from 700cm to 1511cm. Price range on the Majestic is between
#1,800 and #7,500. This range will be available through a
smaller number of dedicated retailers.
4. The Morice range offers over 800 models, mostly to the
consumers' personal requirements and prices range from #5,500
upwards and will be available only through outlets that can
offer an extremely high level of service and installation.
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