(Sharecast News) – Temporary power provider Aggreko said on Wednesday that 2020 pre-tax profit is set to be above the top end of its previous guidance range as activity levels across a number of its markets continue to recover.
The company had previously guided to full-year pre-tax profit of between £80m and £100m.
In a post-close trading update, Aggreko said a strong cash performance in the second half had resulted in a reduction in its net debt over the year of around £200m, with closing net debt to EBITDA of less than 1 times.
“Looking ahead to this year, despite the recent strengthening of sterling, we retain the guidance provided as part of our latest trading update on 17 November 2020 for group profit before tax for 2021 in the range £170-190 million,” it said.
Full-year results are due on Monday 1 March.
