Disposal
August 26 2009 - 3:57AM
UK Regulatory
TIDMLCT TIDMAGA
RNS Number : 0243Y
Lincat Group PLC
26 August 2009
Lincat Group plc ("Lincat" or "the Group")
Disposal of Mercury
Lincat today announces that it has completed the sale
to Aga Rangemaster Group plc ("Aga") of the business and principal assets of
Mercury Appliances Limited, its domestic range cooker manufacturer. In the year
to December 2008 Mercury made a pre-tax loss of GBP130k on a turnover of
GBP1.8m. The GBP425,000 proceeds of disposal are expected to more than cover the
costs of exit from this business.
Martin Craddock, Chairman: "Mercury has
achieved much since it was launched by the Group in 2000 but we recognise that
it will enjoy better prospects and a more secure future as part of a larger
organisation such as Aga, which operates solely within the domestic appliance
market. I would like to pay tribute to the staff of Mercury and especially to
Jenny Hyatt, Mercury's managing director, who will be taking the business
forward under Aga's ownership."
26 August 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
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