Glasgow-based Aggreko, the world’s largest temporary power firm, said its half year revenue rose 16% to £792 million but profit before tax and exceptional items fell to £63 million from £71 million for the same period in 2016.
Aggreko has been hit by the repricing of contracts in Argentina.
Aggreko CEO Chris Weston said: “I am confident that the changes we have made in the last two years are delivering results, with our first half performance supporting our view that, Argentina aside, we will grow this year.”
In its outlook for the rest of the year, Aggreko said: “Our full year guidance remains unchanged.
“The changes we have made in the last two years are delivering results, with performance in the first half supporting our view that, Argentina aside, we will grow this year.
“We have made three acquisitions so far this year, which strengthen our position in two key markets and bring capability in the integration of energy systems based on battery storage, which we believe will present opportunities as energy markets and technologies continue to evolve.
“We continue to expect fleet capital expenditure for the full year to be £300 million.”