Aggreko on track for the year as rental business boosts revenues

 
Suzie Neuwirth
TEMPORARY power provider Aggreko’s share price spiked yesterday, after a bumper trading update unveiled a five per cent rise in revenues for the first three months of the year.

The FTSE 100 company’s power equipment rental business accounts for around half its revenues, which soared 11 per cent during the quarter.

The firm, whose client list includes the 2012 London Olympics and Cirque du Soleil, said power projects order intake hit 406MW in the year to date, but warned “a significant proportion of this is for relatively short-term work, so we continue to be cautious”.

The firm stuck to its full-year guidance of flat operating profit.

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