Aggreko plc, international specialist in the supply of temporary power, temperature control and oil-free compressed air services posted a 42.4 percent year-over-year increase for the first six months of 2005, according to interim results the company announced last week. Total revenue grew from 167.2 million pounds (about U.S. $314.5 million) in the first six months of 2005 to 238 million pounds (about U.S. $447.6 million) this year, with pre-tax profits leaping 78.4 percent, from 16.6 million pounds (about U.S. $31.2 million) last year to 29.6 million pounds (about U.S. $55.7 million) this year.
In North America, revenue and trading profit increased by 37 percent and 141 percent respectively. European revenues grew 14 percent, with profits growing slightly more. The company expects the second half of 2006 to be considerably stronger in Europe. Aggreko posted a 40-percent jump in revenue in the Middle East, Asia, Australia and South America, with a 52-percent jump in trading profit.
“Aggreko has produced a very strong set of results for the first half of 2006, with earnings per share 72 percent of last year,” said chairman Philip Rogerson. “The businesses in North America and international have continued to grow strongly, and we are also making good progress in Europe.”
“Our local businesses grew revenue by 29 percent in constant currency, and trading profits by 93 percent,” added chief executive Rupert Soames. “The International Power Projects business also grew underlying revenue by 40 percent and trading profit by 20 percent. We believe that Aggreko will continue to perform strongly in the second half.”
Houston-based Aggreko North America is No. 13 on the RER 100.
