UK: Aggreko on standby for profits jump
Temporary power provider Aggreko today said it expected a 40% rise in half-year profits.
The Glasgow-based company, which is helping to power the Euro 2008 football championships, said growth had been “broad-based” but picked out profits in Europe as being “significantly higher”.
Other regions including Middle East, Asia and Australia were all making “good progress, the firm said, with North America the only territory where profits were lower so far this year.
Aggreko’s other notable power provision projects include the Glastonbury music festival this coming weekend, and the Beijing Olympics where it is installing 140MW of power across 37 venues.
The firm made £47.5m (€60m) of pre-tax profits during the six months to June 30 last year.
Aggreko said: “The board now believes that profits for the full year are likely to be above current market expectations.”
