Aggreko reports 29 per cent jump in its profits

Steve Dinneen
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POWER generator rental group Aggreko said yesterday that 2010 profit would be better than it previously expected, helped by growing demand for power in emerging markets such as Africa and South America.

The group reported a 29 per cent jump in 2009 pre-tax profit.

The FTSE 100 firm, which provided power for the Vancouver Winter Olympics and the Superbowl, posted underlying pre-tax profit of £246.5m on sales up eight per cent at £1.02bn, aided by currency benefits.

“Given the encouraging prospects for international power projects and the additional fleet investment, we now believe that we will do a little better than we anticipated,” chairman Philip Rogerson said.

Aggreko said it had decided to increase capital expenditure for 2010 by £20m to £200m.