Aggreko is on track to realise a full year profit of up to £270million.
The figure is inline with financial expectations, according to chief executive Chris Weston.
He said: “Aggreko continues to demonstrate its resilience against a challenging market backdrop and I am pleased that we are maintaining our guidance for 2015 full year profit before tax of between £250 and £270 million. 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 which, regardless of the prevailing market conditions, will strengthen Aggreko and position it well for the future.”
The figure was revealed in the firm’s latest trading update.
The company’s turnover was down 6% on last year’s results for the third quarter.
The firm highlighted Russia and Africa as areas of growth, while its Brazil business lagged behind.
The company said it would continue to look to safeguard its funds amidst a difficult trading environment.
The financial statement read: “In recognition of the trading environment and as we seek to balance growth with maintaining a strong balance sheet, we have further flexed our capex plans for the current year and now anticipate spending around £250million on fleet (2014: £226million).
“At this stage, we anticipate first half 2016 fleet capex to be in the region of £120million (2015: £138million) and consistent with past practice we will give full year capex guidance for 2016 at the time of our full year results in March 2016.”
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