Financial Releases
AGM Statement
27 Apr 2005
At the Annual General Meeting today, the Chairman, Philip Rogerson, will report that the Board’s expectation for 2005 remains unchanged - namely that we anticipate that we will make progress compared with 2004.
Trading in the first quarter has been encouraging in Aggreko International, whose International Power Projects business has secured contracts in six new countries in the first three months of the year, underlining the progress we are making in expanding our reach and in broadening our customer base. Similarly, our Local businesses in the Middle East, Asia and Australia have had a good start to the year. In North America, trading has also been robust with revenue and profits ahead of the prior year. In Europe, trading in the first quarter has been below the prior year; from an operational perspective, the business has now stabilised following the disruption caused by the restructuring implemented last year.
Today we are also announcing that we have signed a Power Purchase Agreement with the Uganda Electricity Transmission Company Ltd, for a 3- year contract for the supply and operation of a 50 MW power plant. The value of this contract, including fuel, is likely to be in the region of $160m over the three-year period. A separate announcement, with further details of the contract, is being made at the same time as this statement.
Overall, we are encouraged by the start we have made to the year.
- ENDS -
Enquiries to :
| Rupert Soames / Angus Cockburn |
Tel: 0141 225 5900 |
| Aggreko plc |
|
 |
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| Fiona Piper |
Tel: 020 7379 5151 |
| Maitland |