Olympics power up Aggreko

Aug 26 2008

Revenues jump at Glasgow based power provider Aggreko thanks to Beijing contract

TEMPORARY power provider Aggreko described its performance at the Beijing Olympics as "flawless."

The Glasgow company said the operation to supply 140 megawatts of power at 37 venues during the Games - one of the biggest power provision deals of its kind - was worth more than £21 million in revenues.

In total the Olympics contributed almost £10 million to the company's half-year pre-tax profit which rose 43 per cent to £67.9 million.

Revenues were 28 per cent higher at £407.7 million with strong growth in emerging markets such as the Middle East and Latin America.

Around 150 of the firm's staff have been in China for the Beijing Olympics, installing around 480 kilometres of cable. They will stay on site  for the Paralympics in a few weeks time.

Aggreko also revealed it has won a deal to provide 9MW of power - enough to power 9,000 homes - for the construction of the London 2012 Olympic Village.

Chairman Philip Rogerson said: "Aggreko has delivered another strong operational and financial performance in the first six months of 2008.

"We now anticipate Aggreko's performance for the year will exceed current market expectations."