Aggreko reports record orders in the first quarter
Aggreko Plc, a temporary power provider in UK, announced today that the company reported a record trading in the first quarter of the year 2010. The company said that the record order intake at its international power projects business was reported in line with the expectations. The revenue of the company was reported up by 5% in the first quarter of the year. Aggreko said that the revenue was reported up in both of its business divisions.
Aggreko said that there were contracted 18 new projects in the first quarter of the year 2010. These 18 projects represent over 440 megawatts of new capacity. The international power projects revenues were reported up by 8% in the first three months of the year, while the local revenues were also reported up by 8% in the period.
The company said that the growth in local revenue was mainly attributable to the two big sporting events including the Winter Olympics held in Vancouver and World Cup.
Aggreko also said that the company is planning to spend an extra £20 million on mobile generators this year. This will take the total spending of the company to £220 million. However, the company said that this investment would start making profit until the second half of the fiscal. Aggreko also said that it will stick with the previous guidance for the full year.