More on Aggreko
Aggreko: H1 trading statement
Thursday, 15 June 2006
The trading statement was positive in tone but contained few solid numbers apart from the very encouraging $32m in extra revenue from storm damage in the US.
More importantly there has been strong growth in several businesses including underlying growth in the US (i.e. excluding the one-off benefit of the storm damage).
In addition Aggreko also said that it now expects full year results ahead of previous expectations, although not by how much.
At 262p Aggreko is not cheap on a prospective PE of 16× with a 2.3% yield. However it is performing extremely well with strong growth across its businesses.
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