UPDATE 1-Aga Rangemaster orders down 20 pct

* Says continues to cut back on production * Says Rangemaster ops trades satisfactorily * Shares up 5.7 pct

May 8 (Reuters) - British cooker maker Aga Rangemaster Group Plc (AGA.L) said on Friday overall orders for the 17 weeks to May 1 fell more than 20 percent from the same period last year and it continued to cut back on production and implement cost saving measures.

The company, however, said its Rangemaster operations continued to trade satisfactorily as it benefitted from the weakness of sterling.

Its U.S. refrigeration business Marvel has been seeing sharp volume falls, said the company, an upmarket brand that sells fridges as well as traditional cast iron stoves.

In March, the company had posted a 47 percent fall in full-year pretax profit and omitted its final dividend as demand was hit by the economic downturn.

Its CEO William McGrath had said he expected group operating profit to fall over 60 percent in 2009.

Aga shares were up 5.7 percent at 93 pence at 1057 GMT on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Anil D'Silva)