Scottish Sunday Express - Breaking news, sport and showbiz from the World's Greatest Newspaper
Newspaper Cover Page
Our Paper

Front and Back Pages, E-Edition and Back Issues...

Weather
 4°C
London
Thursday 8th January 2009 Make us your HOME PAGE  What is RSS?
City & Business

AGGREKO STRIKES GOLD

Story Image


Demand for its generators at the Olympics has put it on course for higher-than-expected profits

Wednesday August 27,2008

By David Shand

TEMPORARY power supplier Aggreko has hit upon a winning formula — demand for its generators at the Beijing Olympics has put it on course for higher-than-expected annual profits.

The near-£2billion UK firm said it would generate $40million (£21.7million) revenues from the event, where it installed hundreds of miles of cable at 37 venues to support broadcasters.

Aggreko has also won a contract to provide 9MW of power — enough to power 9,000 homes — for the construction of the London 2012 Olympic Village.

Strong demand from emerging markets such as the Middle East and South America helped drive half-year profits nearly 43 per cent higher, to £67.9million, on revenues up 28 per cent to £407.7million.

Chief executive Rupert Soames said: “The momentum will more than offset softer demand in North America and Europe and will enable us to deliver another strong performance in the second half.”

The  shares fell 19p to 692.50p.


Share...

Got A Story? Get in touch online
Email the news desk directly here!


Rio’s results put BHP bid in shade

RIO Tinto yesterday talked up its defence against rival BHP Billiton’s £70billio...

Read More Comment Speech Bubble Have Your Say(0)

Far fields for Cairn

OIL group Cairn Energy is building up a register of far-flung interests ranging ...

Read More Comment Speech Bubble Have Your Say(0)

Euro slide puts heat on sterling

MORTGAGE misery and worries about the UK’s exposure to a faltering Euro­pean exp...

Read More Comment Speech Bubble Have Your Say(0)

The Political Cartoonist of the Year

Todays best TV right here for you at the Express. • See Guide