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Glasgow power company sees rise in profits

Category: Scotland Business News — Gary Cain on August 12, 2012

Glasgow-based Aggreko has reported a healthy increase in its position for the first half of 2012, with a 23 per cent rise in profits.

The increase is due to sales of £734m, equating to a profit of £148m. This has been helped by a significant £55m contract this summer.

The largest ever temporary power contract, the effort to power sporting events is taking nearly 1,000 miles of cables and 550 generators – all spread over dozens of sites. The one contract itself has seen 260 people being employed.

The firm is happy with its performance, and hopes it has done enough to secure similar contracts in the future.

Already with a significant presence in Brazil, Aggreko’s chief executive Rupert Soames said he was pleased with how the company was positioned. The South American country, with a vibrant economy, is the host of a number of major events in the next four years. Soames said:

“We are busily trying to engage with the various [Brazilian] authorities to persuade them of our capabilities.”

Over recent years, the firm has grown and now employs over 4,500 people, with a presence in 165 worldwide locations. It shows what strong strategies can do.

For many Scottish companies, invoice factoring is helping to shore things up or release cash for acquisitions and market position strengthening.

Not all will be looking at such large contracts as global events of course but, it shows that for all firms large and small, there are opportunities available for well performing organisations.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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