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Aggreko on track to meet full-year expectations despite currency headwinds

StockMarketWire.com

Agrreko said Tuesday it remained on track to deliver on full-year expectations even as increased currency headwinds kept a lid on third-quarter revenues.

Revenue, excluding the impact of currency and pass-through fuel, for the third quarter was up 11% on last year with reported revenue up 7%, the company said.

The uptick in revenue was led by strong performance in the groups rental solutions division, which posted revenues a 26% jump in revenues for the quarter amid strong growth in North American oil & gas markets.

The power solutions industrial division saw revenue increase 11%, driven by Eurasia and Latin American.

While power solutions utility division revenue fell 14%, weighed down by lower volumes and rates in Argentina and the continuing effect of the off-hires in Zimbabwe, Bangladesh and Japan, the company said.

At 8:02am: (LON:AGK) Aggreko PLC share price was -3.3p at 844.3p


Story provided by StockMarketWire.com