Positive results for APR Energy despite delay

US based temporary power supplier APR has reported a full year profit above expectations, and says market demand means 2012 looks set to be equally positive.

Due to what was described as procedural difficulties the company was late in posting its results.

In spite of the hiccup the company was eventually able to report pre-tax profit for the 12 months to the end 2011 rose 91 per cent to $57m on sales 69 per cent higher at $212.8m.

Speaking to City Am, Chief Executive John Campion said, “We have had a good start to 2012 with 284 MW of new contracts won to date, as well as several contract extensions, and we maintain a strong commercial pipeline.

“We are well positioned to capitalise on the substantial market demand for temporary power solutions and are confident that 2012 will be a year of continued growth for APR.”

Rising power demand in developing countries, where supply remains hamstrung by a lack of financing and the time required to install permanent capacity, has pushed up demand for APR’s services.

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