Aggreko plc posted another record year, with worldwide revenue leaping 36.6 percent to £946.6 million (about U.S. $1.33 billion), compared with £693.2 million in 2007. Trading profit jumped 50.6 percent to £202.2 million (about U.S. $284.4 million).
Aggreko’s North America business performed strongly in 2008, with total volume of $386.2 million, a 14.6-percent increase compared with 2007’s total volume of $337.1 million. The company said its base business grew 7 percent in a difficult economic climate, with a very strong year for storms-related revenue, which brought in $26 million in revenue, and a big year for cooling towers. The company’s Canadian acquisition Power Plus has integrated rapidly and is performing well, Aggreko officials noted.
The company said it is off to a strong start in 2009, with the presidential inauguration and the Super Bowl providing robust revenue boosts. However, officials acknowledge that the balance of 2009 is likely to be more challenging. Overall, internationally, the company said it expects 2009 to be similar to 2008 on a constant-currency basis, which would still exceed market expectations.
Aggreko is a world leader in rental power, temperature control and oil-free compressed air solutions. Headquartered in Scotland, with U.S. headquarters in Houston, Aggreko is No. 13 on the RER 100.