GLASGOW (dpa-AFX) - Aggreko plc (AGK.L) said the business has had a very strong first quarter. On a reported basis, revenues increased 18%.
The company noted that both International Power Projects and the Local businesses delivered over 20% underlying revenue growth. Underlying Group revenues, which excludes revenues from major events, ie, Asian Games in 2011 and London Olympics in 2012, as well as pass-through fuel and currency movements, was up 21% in the three months to 31 March 2012. Also, underlying trading margins were slightly above last year.
Moving ahead, the company continues to believe that it will deliver another year of good growth in 2012.
Separately, Aggreko announced the award of a two year project for 100 MW of gas powered generation in the Dominican Republic.
The agreement, which is valued at about $80 million over a two year period will serve as an interim emergency solution to Edenorte, the Northern electrical distribution company of CDEEE, in the Dominican Republic.
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© 2012 AFX News
