Aggreko remains cautious for year ahead as earnings slide

 
City A.M. Reporter
FTSE 100-listed temporary power provider Aggreko yesterday posted a two per cent fall in first-half profits to £144m and gave a cautious outlook for the year ahead, causing shares to fall more than five per cent.

Underlying revenues rose five per cent to £760m in the six months, below analysts’ forecasts of £775m.

Aggreko said trading at its power projects business, which helps deal with temporary crises mainly in emerging markets, was subdued.

But it said increased revenues from new gas projects in Mozambique and Cote d’Ivoire in the second half should help offset the impact of a fall in business in Japan and Afghanistan.