Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Power company Aggreko approved a lower interim dividend on lower first-half profit, though said it did not expect to see its usual second half seasonally following signs of improved demand.
Following the gradual improvement in demand in some sectors since May gives, the company said it was confident it could deliver a pre-tax exceptional profit in the range £80-to-100m.
'Looking further ahead, we continue to expect the group to deliver improved margins and achieve its mid-teens ROCE target, underpinned by our ongoing focus on operational efficiencies,' it added.
The company also gave an update on first-half performance, which was dented by the pandemic impact and lower oil prices.
For the six months ended 30 June, pre-tax profit fell 13% to £47m and revenue fell 13%.
An interim dividend of 5p per share, down from 9.38p a share.
At 9:44am: (LON:AGK) Aggreko PLC share price was -9.4p at 407.6p