Aggreko plc (AGK.L) said it expects first-half underlying Group revenue to grow by around 15% and trading profit by some 20%. On a reported basis, Group revenue and trading profit are projected to increase by nearly 14% and 25% respectively.
In Aggreko's International Power Projects business, revenue excluding pass-through fuel and currency movements is estimated to grow by around 17% in the first half. First-half order intake continues to be strong and is likely to be over 700 MW, including the recently announced 107 MW project to supply power to Mozambique and South Africa, and a new contract to provide 75 MW to the Japanese utility company Hokkaido Electric Power Co.
The company sees margins in International Power Projects to be lower in the second half than the same period in 2011, in large part due to higher mobilisation costs. Overall, Aggreko anticipates that Group margins for the year would be at similar levels to 2011.
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