* Second-qtr revenue jumps 203 pct to $134 mln
* Contracts in Libya, Uruguay extended, renewed
* Shares rise as much as 13 pct
(Adds analyst, CEO comment, share price, details)
By Esha Vaish
July 29 Power plant supplier APR Energy Plc's
quarterly revenue more than tripled as the company
extended lucrative contracts and signed new deals to supply
electricity to power-starved regions.
APR's stock rose 13 percent to rank as the top percentage
gainer on the London Stock Exchange on Tuesday morning.
Demand for quick, short-term power supply in developing
markets has rocketed as economies grow quicker than permanent
power plants can be built - a process that can take four to five
APR said it renewed contracts covering 253 megawatts during
the second quarter, including the first 100 megawatts of its
contract to supply mobile gas turbines in Uruguay.
This month, after its second-quarter reporting period, APR
also extended its 450 megawatt contract in Libya until the first
quarter of 2015. The Libyan and Uruguayan contracts were key to
the company's swing to a full-year profit last year.
"With a sustained renewal rate in excess of 80 percent, our
efforts are paying off and reflect the inherent longevity of our
service," Chief Executive John Campion said in a statement.
Jacksonville, Florida-based APR rents out 25-megawatt
turbines for electricity shortfalls in countries such as
Argentina, Burkina Faso and Yemen. It also supplied the turbines
and diesel generators that lit up parts of Japan after the 2011
Revenue rose to $134 million for the second quarter ended
June 30 from $44 million a year earlier.
Liberum analysts wrote in a note that APR's contract
renewals would "materially de-risk the short-term outlook for
APR's shares were up 10.3 percent at 567 pence at 0805 GMT.
(Editing by Robin Paxton)