Power generation, temperature control and oil-free air compressor rental specialist Aggreko posted £792 million (about U.S. $1,033 million) in first half revenue, compared to £685 million in the first half of 2016, a 15.6-percent increase. The Rental Solutions division leaped 13.9 percent from £280 million to £319 million. The Power Solution segment leaped 16.8 percent from £405 million in the first half of 2016 to £473 million in the this year first half.
“I am confident that the changes we have made in the last two years are delivering results, with our first half performance supporting our view that, Argentina aside, we will grow this year,” said Aggreko chief executive Chris Weston. “In particular we have made good progress enhancing our product offering, improving our customer experience and reducing our cost base, all of which makes us more competitive. As we look forward, energy markets and technologies are evolving and we continue to invest and grow our capabilities to take advantage of the opportunities this presents.”
Aggreko’s full year guidance remains unchanged.
During the first half of the year, Aggreko acquired 95 percent of the share capital of Kerta Bumni Tekindo, an Indonesia-based power rental company. It also acquired TuCo Industrial Products, a specialist in providing temporary heat and air-conditioning equipment to the construction, industrial, commercial and special events industries.
Based in Scotland, with U.S. headquarters in Houston, Aggreko is No. 11 on the RER 100. For more information, visit www.aggreko.com.
