Aggreko, international leader in providing temporary power, temperature control and oil-free air solutions, last week said it expects the company’s performance to top current market expectations. The company said it expects operating profit for the year to grow by about 50 percent.
Aggreko said all its local businesses have performed well in the year’s second half, with aggregate revenues increasing about 20 percent from the previous year. “Trading in the Middle East, Asia, Australia and South America has been buoyant with second-half revenues expected to grow by around 50 percent,” the company said in a statement. “Our European and North American businesses have performed well and are expected to show year-on-year revenue growth of around 15 percent for the second half.”
The company’s International Power Projects business is running at high utilization and expects 40-percent growth based on good markets and record levels of investment. Aggreko expects a 45-percent revenue jump for this unit. The company recently won several important multi-year contracts in South America, requiring 100 megawatts of temporary power. The company recently won an 18-month contract to supply 20 MW of gas-powered generation in Indonesia.
The company said its robust international growth will more than offset “difficult” conditions in North America.
Based in Scotland with U.S. headquarters in Houston, Aggreko is No. 12 on the RER 100.
