28th Oct 2013 07:30
GLASGOW (Alliance News) - UK-based temporary power provider Aggreko PLC. said Monday that trading in the third quarter has been in line with its expectations, with underlying Group revenues and trading margins in the three months to 30 September 2013 slightly ahead of the same period last year. "underlying" excluded 37 million pounds of revenues from the London Olympics recognised in the third quarter of 2012, pass-through fuel and the impact of currency movements.
On a reported basis, revenues decreased by 6% and trading margins were a little lower than the same period last year.
In its Interim Management Statement covering the period from 1 July 2013 to date, the company said, on an underlying basis, it expects that the Local business will continue to perform well. It expects underlying revenues and margins to be ahead of the prior year both in the second half and on a full year basis.
In terms of fleet capital expenditure, it expects to spend around 230 million pounds in the current year and to invest around 140 million pounds in the first half of 2014, reflecting the continued growth of its Local business and further investment in its gas and HFO fleets.
For 2013, the firm expect that Group profit before tax will be in line with market expectations.
Copyright RTT News/dpa-AFX
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