27th Apr 2005 07:01
Aggreko PLC27 April 2005 AGGREKO plc AGM STATEMENT At the Annual General Meeting today, the Chairman, Philip Rogerson, will reportthat the Board's expectation for 2005 remains unchanged - namely that weanticipate that we will make progress compared with 2004. Trading in the first quarter has been encouraging in Aggreko International,whose International Power Projects business has secured contracts in six newcountries in the first three months of the year, underlining the progress we aremaking in expanding our reach and in broadening our customer base. Similarly,our Local businesses in the Middle East, Asia and Australia have had a goodstart to the year. In North America, trading has also been robust with revenueand profits ahead of the prior year. In Europe, trading in the first quarter hasbeen below the prior year; from an operational perspective, the business has nowstabilised following the disruption caused by the restructuring implemented lastyear. Today we are also announcing that we have signed a Power Purchase Agreement withthe Uganda Electricity Transmission Company Ltd, for a 3-year contract for thesupply and operation of a 50 MW power plant. The value of this contract,including fuel, is likely to be in the region of $160m over the three-yearperiod. A separate announcement, with further details of the contract, is beingmade at the same time as this statement. Overall, we are encouraged by the start we have made to the year. - ENDS - Enquiries to : Rupert Soames / Angus CockburnAggreko plcTel. 0141 225 5900 Fiona PiperThe Maitland ConsultancyTel: 07808 727 500 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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