LONDON (ShareCast) - Aggreko (LSE: AGK.L - news) , supplier of temporary power and temperature control, has maintained its guidance for
the year, expecting profits in constant currency to be at similar levels in 2009 to those achieved in 2008.
Headline revenues will grow by at least 20% and pre-tax profit will be 55% higher than last year. In constant currency, and excluding pass-through fuel, it expects revenues to grow by around 5% and trading profit by about 15%.
International Power Projects has traded strongly. In the second half, it expects the business will continue to grow but, given the very large number of new projects commissioned in the second half of 2008, it will be at a noticeably slower rate.
Conditions in most of its Local Businesses have deteriorated in the second quarter and are expected to remain challenging in the second half.
"Capital expenditure is likely to be somewhat lower than previous expectations at £170m, in part due to currency movement. We also expect that the business will be strongly cash generative this year," said the group.
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