Share Prices & Company Research

Market News

20 Jan 2021 | 07:46

Aggreko profit to beat top end of its guidance as markets continue to recover

(Sharecast News) - Temporary power provider Aggreko said on Wednesday that 2020 pre-tax profit is set to be above the top end of its previous guidance range as activity levels across a number of its markets continue to recover. The company had previously guided to full-year pre-tax profit of between £80m and £100m.

In a post-close trading update, Aggreko said a strong cash performance in the second half had resulted in a reduction in its net debt over the year of around £200m, with closing net debt to EBITDA of less than 1 times.

"Looking ahead to this year, despite the recent strengthening of sterling, we retain the guidance provided as part of our latest trading update on 17 November 2020 for group profit before tax for 2021 in the range £170-190 million," it said.

Full-year results are due on Monday 1 March.

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.