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Positive Points: Aggreko has traded in line with its expectations with underlying revenues and trading margins slightly ahead of the same quarter a year ago that saw the company generate revenues of £37 million from the London Olympics. Aggreko enjoys high barriers to entry through its fleet and global network of depots. The company expects to spend around £230 million in the current year, and £140 million in the first half of 2014 on fleet capital expenditure. Diversity of both customer type and geographical location is enjoyed.
Negative Points: Third-quarter revenue from the company's Power Projects division was 2% down on an adjusted basis with trading margins slightly behind last year and order intake at similar levels to last year at 105 megawatts. The company said it has not yet seen an improvement in the pace of orders, although interest remains strong. With much of the group's business conducted overseas, foreign exchange movements can (and have) impacted. New entrants may be attracted into the market by Aggreko's high returns. With operations in around 100 countries, many in Africa, Asia and Latin America, some jurisdictions expose the group to political instability.
Financial Highlights: Local business revenues in the third quarter were up 4% on an underlying basis, with underlying margins ahead of last year. Power Projects revenues in the third quarter were 2% down on an underlying basis with trading margins slightly behind last year. Net debt decreased by £83 million in the three months to 30th September 2013, and stood at £469 million, £216 million lower than the position at 30 September 2012.
Interim management statement: Temporary power supply provider Aggreko said it is trading in line with expectations. Group revenues and trading margins in the three months to 30th September were slightly ahead of the same period last year and excluded £37 million of revenues generated from the London Olympics recognised in the third quarter of 2012. On an underlying basis, the Americas region grew revenues by 6%, Asia, Pacific and Australia (APAC) was 17% lower than last year, due largely to off hires in the last twelve months in Japan and Indonesia. Europe, Middle East and Africa (EMEA) grew 8%, helped by full production from 430MW of gas in its contracts in Mozambique and Cote d'Ivoire. "For 2013, we expect that group profit before tax will be in line with market expectations" the company said in a statement
So, nothing to do with the trading statement then macdu? Quick.. I think I saw some billygoats under that bridge...
one swallow does not make a summer only reason this share has risen today is because of the bad weather in the south of england i can see a large drop on tues morning watch this space!!!!
Speaking of a large pipeline, it only takes a big one to drop and it will move another 10 per cent, that said I offloaded one of my tranches this morning, if it drops back ill be back in, if not its win win.
normski, you seem to know what you are talking about., do you expect this to climb back to mid 1700?
U are very quiet since your nonsense comment on 4th October. Obvious u have no Ida what you are talking about
Its not a seesaw Steely, just because one goes up it doesn't automatically follow that the other goes down. APR bought GE.N, market obviously likes it. Notable that GE.N was the underperforming part of GE in their last quarter though. Congrats to the APR holders, nice little earner.
Big increase today .....trouble is a coming
......Games in the bag......................
Competition
Has the contract been awarded Ithought Speedy were the front runners
Yes Ok but Explain your valuation.
perhaps i was being being rather kind sayin £8 for this share ...one must ask how long major shareholders the SALVESEN family`s nerve will hold before they start selling in which case this share could return to around the £4 mark
This has been heavily shorted and is about to ping back.
Looks like good news about to break......this will be a great Commonwealth games for AGK........gold medals all around :-)
what do you base that comment on. lets see what the 28 Oct update brings, unless you can back up your daft comments about £8 please keep them in your bedroom to yourself...I see this is your 1st post on this site - do you work for APR? why would a mild winter affect temporary power supplier such as AGK - considering much of their revenue is generated overseas.
if we have a mild winter i can see this share being around the £8 mark come the spring ....looks very much like the lights are dimming fast for this much hyped company
This is heading to the high 12s ,
1604 and classed as a ut buy yet at 430 prices are £16.14 - £16.20 ???
agreed, too good a company not to rebound. SSB ( smug Swiss bar stewards)
I am replying to my own message actually.. And the reason why is.......if you guys out there own Aggreko and you see some Swiss outfit downgrade them by 30% just like that well plough a bit of well earned cash into them and lets make some money......Credit Suisse?? Do you know what you are talking about????? Who are you?
Hey, Credit Suisse downgrade AGK from 20 to 14 just like that...Give us a clue guys? Why? This is a Blue Chip......Was it a Friday afternoon 'must do something to validate my posh position' day? Answers ok..