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CORRECTED-APR Energy posts profit; signs new contract in South Pacific
March 26, 2014 / 7:41 AM / 4 years ago

CORRECTED-APR Energy posts profit; signs new contract in South Pacific

(Corrects paragraph 2 to show the contract signed was for the company’s second large-scale, not second largest, turbine project)

March 26 (Reuters) - APR Energy reported a profit for the full year as the temporary power provider cashed in on contracts from Libya and Uruguay during the second half of the year.

The company also said that it had signed a contract - its second large-scale turbine project - with an unnamed industrial customer in South Pacific to provide fast-track power for a mobile gas turbines plant guaranteed to produce 60 megawatts of electricity.

APR Energy, which rents out 25 MW turbines for electricity shortfalls and disaster relief in countries like Argentina, Burkina Faso and Yemen, on Wednesday posted a pretax profit of $27.5 million for the year ended Dec. 31, compared with a loss of $4.9 million a year earlier.

The company’s full-year revenue rose 16 percent to $308.3 million. (Reporting by Richa Naidu and Esha Vaish in Bangalore; Editing by Gopakumar Warrier)

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