Power firm Aggreko in temporary profits dip

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

Related Stories

Temporary power firm Aggreko has reported lower profits due to "subdued" trading in its power projects division.

The Glasgow-based firm saw pre-tax profits fall by 2% to £146m in the six months to the end of June.

Revenue for the period was up 4% to £760m.

The company said its full-year trading was in line with expectations and it anticipated revenues in power projects to be higher in the second half than in the first.

In contrast, Aggreko's local business division, which rents out products ranging from small generators to large cooling plants around the world, saw revenues increase by 9%.

Chief executive Rupert Soames said: "Our local business, representing some 60% of revenues, delivered strong underlying revenue growth and margins strengthened.

"Trading in our Power Projects business was, however, subdued relative to its historic performance, with revenues flat on the prior year and margins weaker."

The company said it now expected to spend about £240m on fleet capital expenditure for the full year, close to half what it spent in 2012.

Mr Soames said this "disciplined approach" was expected to deliver strong cash generation.

More on This Story

Related Stories

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

More Scotland business stories

RSS

Features

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.