Sales in Agas, the iconic cast iron cookers, have defied the retail downturn as loyal customers trade in their old Agas for 21st-century models.

Aga Rangemaster, formerly known as Aga Foodservice Group, said its balance sheet remains strong, adding it has continued to grow market share in a difficult cooker market, with sales up 5 per cent over the same period last year.

According to Aga’s chief executive, William McGrath, customers are trading their old Agas for new, energy-efficient models

The company added it expects its first-half underlying trading results to be broadly in line with 2007.

Starting prices for the Aga range from £5,000 to £6,000 per cooker. They can run on oil, gas or electricity.

“With efficient manufacturing and well established distribution structures, the potential for the group remains strong although we are mindful of the current economic climate we are facing,” said Mr McGrath.

Birmingham-based Aga Rangemaster is scaling back its operations in Ireland, where the market has deteriorated materially.

Aga Rangemaster shares have lost a third in value over the past year after it became more exposed to the consumer following the sale of its commercial ovens business. Shares fell further on Wednesday by 6.25p to 158.8p.

Setting the time

— The Aga cooker was invented by the Swedish scientist Gustaf Dalén in 1922

— It was introduced to Britain in 1929

— The Aga was initially available in cream, but in 1956 blue, green, white and black models were added

— An oil model was introduced in 1964, followed by gas in 1968 and electric in 1985

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