Aggreko plc, the world leader in the supply of temporary power and temperature control, posted £1.4 billion (about U.S. $2.19 billion), a 13.5-percent increase in worldwide revenue compared with £1.23 billion in 2010. Trading profit jumped 8.6 percent from £314 million a year ago to £341 million (about U.S. $534.4 million).
In North America, total revenue jumped 9.2 percent, from $380 million in 2010 to $415 million in 2011.
“Aggreko has delivered another strong performance in 2011, with underlying growth in revenues of 22 percent and in trading profit of 26 percent,” said Philip Rogerson, Aggreko chairman. “The Group also achieved solid headline growth despite the fact that 2010 was an extraordinary year for our revenues from major sporting events, with the FIFA World Cup, the Vancouver Winter Olympics and the Asian Games together accounting for about £87 million of revenue in 2010. The strength of our performance is a tribute to the breadth and diversity of the Group and the continuing demand we see in all our key markets.”
The company is off to a strong start in 2012, said chief executive Rupert Soames. “The growth rate in both International Power Projects and the Local business has accelerated,” said Soames. “We are planning to increase the rate of investment in fleet and we now expect that our fleet capital expenditure in 2012 is likely to be about £130 million higher than we anticipated at the end of December, at around £350 million. We are confident that the business will deliver strong growth in the first half of 2012; at this early stage of the year, we are more cautious about the second half of 2012, when, in any case, comparatives will be tougher. Overall we continue to believe that we will deliver another year of good growth in 2012.”
Based in Scotland, with U.S. headquarters in Houston, Aggreko is No. 6 on the RER 100.