Aggreko Records A Fall In Profits

Glasgow-based temporary power firm, Aggreko, has reported lower profits in the six months to the end of June 2013.

The firm says the fall is due to "subdued" trading within its power projects division.

In the first half of 2013, pre-tax profits fell by 2% to £146m. Revenue for the same period increased by 4% however, to £760m.

Despite the results, the firm said its full-year trading is in line with expectations, while its anticipated revenues for the second half of the year are said to be higher than the first.


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

Discussing the results, 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."

Aggreko said it expected to spend around £240m on fleet capital expenditure for the full year.

(JP/MH)