Aggreko to return 200 mln stg to shareholders as profits fall
LONDON, March 6
LONDON, March 6 (Reuters) - Aggreko, the world's biggest temporary power provider, said it would return 200 million pounds ($334 million) of cash to shareholders, as it posted an expected 8 percent fall in full year results.
The British firm, whose kit powers major events and covers electricity shortfalls, said on Thursday pretax profit fell to 338 million pounds from 365 million a year earlier, slightly ahead of analyst forecasts of 333.76 million, according to Reuters data.
Results were down due to the impact of lower revenues from military work in Afghanistan and post-Fukushima reconstruction in Japan, as well as no revenues from the London Olympics.
Aggreko proposed a 10 percent increase in its dividend to 26.30 pence per share for the year and said it would return an additional 200 million pounds to shareholders in June after a year of strong cash generation.