Temporary power firm Aggreko hit by currency changes

Aggreko has reported a fall in pre-tax profits on the back of currency movements.

The temporary power firm made £132m in the first six months of the year – a fall of 9% – but the company said underlying growth was strong.

Aggreko said its results were adversely affected by the impact of “currency translation”.

It said that underlying revenue was up 12% to £768m with underlying profit up 6%.

Aggreko’s interim chief executive, Angus Cockburn said “Aggreko has made an encouraging start to the year and delivered a good performance in the first half”.

He also said “we are proud to have been involved in the provision of broadcast and stadium power for both the FIFA World Cup and the Glasgow Commonwealth Games”.

Aggreko employs more than 4,500 people operating from 165 locations.

The group said full year projections remained unchanged.