Aggreko says year results to top forecasts
Temporary power provider Aggreko said its 2008 pretax profit should beat forecasts and be at least 50 percent higher than last year, after better than expected third-quarter trading.
Schroders 35% profit rise in 2007"In North America, revenues grew by 10 percent, as customers needed support following Hurricanes Gustav and Ike," said Aggreko, which rents generators, air conditioners, air compressors and cooling towers.
Analysts' median forecast is for Aggreko to post a 2008 pretax profit of 170.5 million pounds, up from 124.2 million last year, according to Reuters Estimates.
Group revenue rose 39 percent in the three months to end-September. Growth was 30 percent in constant currency based on its Local business growing 17 percent and International Power Projects rising 54 percent.
Aggreko said its Local business was driven by the Middle East, Asia-Pacific, and central and South America which saw revenue rise 59 percent. Growth was 26 percent excluding $22 million of revenue from the Beijing Olympics.
Revenue in Europe fell 3 percent.
(Reporting by Dan Lalor)
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