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Aggreko is world cup winner

10 Mar 11 Major international sporting events including the World Cup and Winter Olympics helped drive Aggreko to record highs in 2010.

The portable generator hire specialist has reported group revenues up 20% to £1,230m in 2010. Pre-tax profits were up 23% to £324.5m.

During the year the company took £87m of revenue from the Vancouver Winter Olympics, the FIFA World Cup and the Asian Games.

A record 1,300MW of new work was secured in 25 countries, the company said. More than 50% of its International Power Projects fleet is now on rent in Asia and Central & South America.

At the end of the year the order book was up 60% on the year before.

Momentum has been continued onto 2011, with a 14% year-on-year increase in MW on rent at start of this year.

Chief executive Rupert Soames said: "2010 demonstrated the strength of Aggreko's business model.  A hat-trick of major events has allowed us to deliver strong earnings growth while our International Power Projects business completely re-structured its order book and delivered the key strategic objective of improving the regional balance of business between Africa, the Americas and Asia. We go into 2011 with strong momentum, a record order book in International Power Projects, and continued strong demand driven by the world-wide shortage of power.

"We expect both International Power Projects and our Local businesses to deliver good growth on an underlying basis in 2011, and to support this, fleet capital investment in 2011 is expected to increase by 26% to a record £320m."

Aggreko has also been selected to be exclusive supplier of temporary energy services for the London 2012 Olympics.

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