StockMarketWire.com - Aggreko said Wednesday first-half pretax profit jumped 8% supported by strong performance in the rental solutions division.

For the six months to 30 June, underlying pretax profit rose 8% to £59m but fell 7% on a reported basis, underlying revenue rose 14% to £857m, and 10% on a reported basis.

The rise in revenue was driven by a strong performance in rental solutions which offset the decline in power solutions utility, the company said.

Rental Solutions underlying revenue was up 32%, while Power Solutions Utility underlying revenue was down 15% primarily due to planned off-hires in Zimbabwe and Japan, and lower volumes and pricing in Argentina, the company said.

The board has maintained the interim dividend at 9.38 pence a share, and said that full-year performance would meet expectations.

'Our good first half performance, combined with the expected improvement in Power Solutions Industrial and continued growth in Rental Solutions, give us confidence we are on track to deliver our guidance for the full year of profit before tax in line with 2017, excluding the effects of currency,' the company said.


At 9:50am: [LON:AGK] Aggreko PLC share price was +75.5p at 818.7p



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