Aggreko reports slight profit rise in Middle East

A temporary Aggreko power plant in Soccer City, Johannesburg.

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Temporary power supplier Aggreko has reported a slight surge in first-half revenues for its Europe and Middle East market, up to £125.1 million, compared to £122.1 million in 2009.

Aggreko said in a statement that profit hopes had received a major boost as the FIFA Soccer World Cup added £29 million to its revenues. It delivered 259 generators and chillers, 525 km of cable and over 1 200 distribution panels to the 11 sites at the World Cup, including the broadcasting centre.

It reported a 19% rise in interim profits to £127.1 million. Revenues from the World Cup, the company’s largest-ever events contract by value, were £28.7 million, which drove a 51% increase in Aggreko’s events division turnover in the first half, up to £85 million from £48.5 million last year.

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In addition, Aggreko reported a record order intake for its international power projects business in the first half, securing contracts in 18 countries.

“In the first half, we have laid the foundations for another year of good progress,” said Aggreko chief executive Rupert Soames.

“We believe that we will make further good progress in the second half and that the outcome for the year as a whole will be slightly better than our previous expectations,” said Aggreko chairman Philip Rogerson.