RERMAG

Aggreko Posts 42 Percent Revenue Growth in First Quarter

Aggreko, leading international supplier of temporary power, temperature control equipment and oil-free air compressors, last week posted a 42-percent revenue increase for the first quarter and said it expects strong results for the first half of 2009. On a constant currency basis, group revenue grew 17 percent.

Since January, the company’s inquiry rate has been at record levels, with potential projects in 40 countries, said chief executive Rupert Soames. Aggreko’s international power division posted 51-percent growth, with an increase in the number of megawatts on rent. Revenues in North America grew 5 percent, benefitting from power equipment supplied to areas hit by storms, activities related to the inauguration of President Barack Obama and the Super Bowl.

Aggreko forecasts full-year trading to be at similar levels to 2008 on a constant currency basis. The company will benefit from a deal to supply equipment to the 2010 Winter Olympics in Vancouver, Canada.

Based in Glasgow, Scotland, with U.S. headquarters in Houston, Aggreko is No. 13 on the RER 100.

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