Aggreko expects profits rise

City A.M. Reporter
BRITISH temporary power provider Aggreko said it expected trading profit to be slightly ahead of 2010, after a strong start to the year helped revenues grow by nine per cent.

Aggreko, whose containerised generators help meet electricity shortfalls and power major events such as the Olympics and soccer World Cup, said revenues in the three months to the end of March grew nine per cent, excluding revenues from last year’s major events.

The firm, which posted a 19 per cent revenue rise in constant currency in its International Power Projects, added it had now signed a contract worth around $100m (£60m) with Tokyo Electric Power Company for the supply of 200MW of emergency power for a minimum period of a year.

Aggreko said it had also seen strong trading in its North American and Australian businesses in particular and following a strong order intake in recent months it planned to up its fleet expenditure in the second half of the year.