Aggreko expects 25% profits rise

Aggreko is cautious about 2011 because there are no major sporting events planned

Temporary power provider Aggreko said it expected its full-year pre-tax profit to rise by 25% to about £305m.

However, the Glasgow group was cautious about 2011 because there are no major sporting events planned.

Aggreko rents generators to provide temporary power and cooling systems for events like the World Cup and the Winter Olympics.

The company said it was in talks to provide services for the 2012 London Olympics.

Aggreko said gained about £90m of revenue from major events such as the Winter Olympics and Asian Games and this would not be repeated in 2011, but it expected trading profit next year to be at a similar level to 2010.

It also said it would accelerate investment in its fleet, increasing the number of generators powered by gas rather than diesel.