27th Jan 2014 11:18
LONDON (Alliance News) - APR Energy PLC Monday said its 2013 full-year results are expected to be in line with expectations, after it signed 740 megawatts of new contracts in 2013.
The fast-track power distributor said its full-year revenues were up 17% compared to the previous year to roughly USD310 million, and it saw a 36% increase in its order book to 15,730 megawatt months on December 31, 2013.
APR said it had achieved strong fourth-quarter financial and operational results, with revenues totalling roughly USD139 million for the three-month period.
The company noted that its new contract wins in 2013 totalled 740 megawatts, and it achieved 298 megawatts of extensions. The company also noted that at the start of 2014 it extended its 200 megawatt project in Libya.
APR said it continues to remain confident in the structural growth trends within the fast-track, turnkey power market and particularly in the application of mobile dual-fuel turbine technology. As such, the company said it expects to make strong progress in 2014.
APR Energy shares were down 6.0% to 926.50 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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