Glasgow firm Aggreko forecasts flat first-half profits

Aggreko container being loaded on to Antonov plane Aggreko provides temporary power solutions to countries around the world

Related Stories

Temporary power firm Aggreko is forecasting flat profits for the first half of the year, despite seeing a 5% rise in group revenues.

The Glasgow-based company said sales for the Americas should grow by 11%, with revenues for Europe, the Middle East and Africa up by about 8%.

But its Asia Pacific sales are forecast to fall by 6%, thanks largely to lower revenues from Japan and Indonesia.

The group said results to 30 June should be in line with expectations.

Its local business division, which rents out products ranging from small generators to large cooling plants around the world, is on track to deliver a strong first half, with revenues growing by around 9% on an underlying basis.

Aggreko also expects sales in its power projects arm to be about 1% ahead of last year.

In a trading statement, the group said it expected sales in that division to improve in the second half, as new gas contracts in Mozambique and Cote d'Ivoire come on line.

The international power arm serves utilities, governments, armed forces and major industrial customers with power plants ranging from 10 megawatts to 100 megawatts on a single site

Earlier this year, Aggreko - which supplied power for the London Olympics in 2012 - warned that a lack of major events during 2013 and uncertainty over some Japanese contracts could hit its performance this year.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories

RSS

Features

  • Two sphinxes guarding the entrance to the tombTomb mystery

    Secrets of ancient burial site keep Greeks guessing


  • The chequeBig gamble

    How does it feel to bet £900,000 on the Scottish referendum?


  • Tattooed person using tabletRogue ink

    People who lost their jobs because of their tattoos


  • Deepika PadukoneBeauty and a tweet

    Bollywood cleavage row shows India's 'crass' side


  • Relief sculpture of MithrasRoman puzzle

    How to put London's mysterious underground temple back together


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.