Aggreko wins $100m power contract

Aggreko expects profits to be better than expected in 2011 but is cautious about the second half of 2012

Temporary power firm Aggreko has won an extension of a contract in Bangladesh worth $100m (£64m).

The Glasgow firm is to exchange a diesel-fuelled power plant at Ghorashal for one which will run on natural gas.

Meanwhile the company said profits would be about 5% higher than previously forecast at £324m.

Following success at other major sporting events, Aggreko recently announced it was to supply power to the London 2012 Olympic Games.

The group said it expected to "start 2012 in a strong position, with at least 20% more on hire in International Power Projects than at the start of 2011".

However, it was more cautious about the second half of the year, when it said any downturn in economic activity was more likely to be felt by its businesses.

Chief executive Rupert Soames said: "As we enter 2012, demand for temporary power remains strong and we will continue to invest in the expansion of our fleet and our global network of service centres."