Aga rationalisation to cut workforce
The company said that despite exceptional growth in recent years in Ireland driven primarily by Rangemaster, Aga and Waterford Stanley, deteriorating economic conditions in recent months have led to a fall in consumer demand.
The company refused to give any further details on job losses, but said the number would be small.
It said it is working on marketing initiatives to bolster sales in Ireland.
In May the company said it expected sales to be down in Ireland in the first half of the year, where it said the market was very weak.
Yesterday it said its decision to “rationalise” operations in Ireland will have a “significant impact” on first-half results.
Aga has stores in Dun Laoghaire, Cork and Galway.
In a group trading statement Aga Rangemaster said it is making good progress within its overall operations.
It said underlying trading results for the first half are expected to be broadly in line with those for 2007.
Chief executive William McGrath said: “Overall our wide range of consumer brands are proving resilient. Our marketing programmes, in support of our strong brands, are backed by product development initiatives which reinforce the relevance of our well differentiated products to consumers.
“With efficient manufacturing and well established distribution structures, the potential for the group remains strong, although we are mindful of the economic climate we are facing.”
