Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Aggreko's overseas division grows while local business suffers

Aggreko has said it expects first-half profit to rise as its international power division continues to grow.

But the British-equipment hire firm said trade at its local businesses had slowed in the second quarter.

Aggreko expects pre-tax profit for the six months to the end of June to grow by around 15 per cent, with revenue rising some 5 per cent in constant currency terms, excluding fuel costs.

In the first half of 2008 Aggreko reported a pre-tax profit of £67.9 million with turnover of £407.7 million.

The company said it expects conditions at its local businesses to remain challenging in the second half.

But bosses maintained their guidance targets for the year and said they expect 2009 profit to be at a similar level to that achieved in 2008 when Aggreko made a full year pre tax profit of £191.6 million.

In a trading statement to the stock exchange today Aggreko said: “A very strong performance in international power projects will be partly offset by weaker conditions in the local businesses.

“Generally, across most products and geographies, there has been some pressure on rates.”