Aggreko rental revenues up

UK temporary power provider Aggreko has announced half-year reported revenues of £319 million (€352.72 million) for its rental solutions business – a year-on-year rise of 14%.

The group’s rental segment operating profit was also up 36% year-on-year to 14 million.

Aggreko said that it experienced growth in all its markets other than Australia Pacific, which saw a small decrease. The company said Europe’s growth was solid. North American revenue was also up.

Chris Weston, CEO of Aggreko, said, “I am confident that the changes we have made in the last two years are delivering results, with our first half performance supporting our view that, Argentina aside, we will grow this year.

“In particular, we have made good progress enhancing our product offering, improving our customer experience and reducing our cost base, all of which makes us more competitive.”

He added that the energy and technology markets were evolving, and the company would continue to invest and grow in its capabilities.

Aggreko’s group revenues for the first six months were £792 million (€875.71 million), up 16%, while its operating profit was up down 3%, to £79 million (€87.35 million).

The company recently announced the acquisition of Younicos in a £40 million (€45.53 million) deal.

Headquartered in the US, Younicos is a technology company that develops and sells energy storage systems and control software.