Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Aggreko

Markets

Aggreko shares in double-digit slide as demand for generators tails off

Aggreko shares fell 12% this morning after the temporary power supplier reported a £30million drop in its first half profits amid a “difficult trading environment”. Aggreko, which has a manufacturing facility in Dumbarton, also stuck to its earlier guidance that profits for the full year would be slightly lower than in 2015. The company, which has provided rental power for major sporting such as the Commonwealth Games in Glasgow and the FIFA World Cup in Brazil, also said it had made 700 employees redundant worldwide as part of plans to achieve savings of £80million.

Opinion

Powering the North Sea: protecting profit margins

Whilst the recent oil and gas decline is having a considerable impact on the local and national economy with employment and business confidence levels in particular taking a hit, this slump is also having detrimental consequences to the industry’s finances.

Markets

Aggreko takes a knock from oil and gas downturn

Aggreko said today its gains from petrochemical and refining customers since July 1 had nearly cancelled out an adverse impact from weakness in oil and gas. The Scottish temporary power firm added its “resilience” against a challenging market backdrop allowed it to maintain guidance for 2015 profits of £250-£270million, down from £289million on revenue of £1.58billion last year. Chief executive Chris Weston said: “Whilst we are at an early stage in delivering the specific actions identified at our business review in August, I am encouraged with the progress we are making.”

Markets

Aggreko profits drop as it chief exec unveils new strategy

Aggreko has seen its pre-tax profits drop from £130million to £102million, affected by a number of factors including the slowdown in the North American oil and gas sector and civil war in Yemen. The power provider has created two separate business units which came into effect this month as it looks to adapt to market conditions. It said the move will include the “streamlining” of back-office processes and closing some depots.