Aggreko goes top of FTSE 100

Aggreko, the provider of temporary generators, powered to the top of the FTSE 100 on Friday after a reassuring trading update.

The company, which provides equipment used at major sporting events and music festivals, including the US Super Bowl and World Cups, said growth in its Americas business reached 15 per cent in the third quarter. It stood by its existing guidance for full-year profits to hold steady.
“A number of new contracts have been won and contracts renewed, though areas such as Australia, Brazil and Europe remain more challenging,” said Paul Jones, analyst at Panmure Gordon. “Lower oil prices will of course make fuel costs more attractive for major projects.”

Shares in Aggreko rose 3.9 per cent to £16.02.

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