Busy first quarter for Aggreko

16th Apr 2010 07:04

Temporary power and heating specialist Aggreko said it performed in line with expectations in the first quarter of the year, with healthy revenue rises from both its divisions.Aggreko, which rents out generators used in industry and for events such as concerts, said revenues at its International Power division grew by 8%, with order intake hitting a new record. The division also provides staff to operate the equipment it rents out.Revenues at the local business, which rents out equipment for customers to operate themselves, were also up by 8%, helped by revenues from the Winter Olympics held in Vancouver.'In the light of the strong order intake in International Power Projects, we now expect fleet capital expenditure to be around £220 million, which is £20 million higher than previous guidance,' the company said. 'However, in light of the fact that this additional fleet is unlikely to be earning revenue until well into the second half, our expectations for trading for the year as a whole remain broadly unchanged from those set out six weeks.'