New products boost profits at Aga

The stove maker has been expanding overseas

UK stove maker Aga Foodservice says a growing range of products and higher international sales helped it post a 9.7% rise in profits for 2004.

Aga, known for its upmarket oil-burning country kitchen stoves, said pre-tax profits came in at £30.6m ($58.7m).

Looking ahead, its food trade division expects significant orders in 2005 for its new "healthy" fryer, the Infinity.

Reduced oil and energy use means the fryer costs less than half that of current machines to run.

The Infinity is currently being trialled by two fast-food chains.

Cookware products

The Solihull-based firm added that expansion overseas has helped it to reduce its exposure to any downturns in consumer spending.

We have the international market positions, products and distribution to make 2005 an impressive year William McGrath, Aga chief Check Aga share price Aga polishes up image

Aga also said it saw growth in its cookware products and planned to expand the range this year.

Overall sales at the group increased 10.9% to £435m.

"Our performance in 2004 was pleasing," said chief executive William McGrath.

"We have the international market positions, products and distribution to make 2005 an impressive year."

Aga shares were up 3% at 312 pence at the close of trade on Friday.