Aggreko shares jump on profits hike

<p>Profits are up at Aggreko.</p>

Aggreko's share price was up today (March 7th) as a result of news the company's profits were up over the last 12 months.

The firm announced dividends were up by 15 per cent on last year's figures and in the wake of this, shares in the company rose by 14 per cent.

Chief executive Rupert Soames warned the organisation's results for 2013 are not going to be as strong as the set of figures unveiled for 2012.

In December, Mr Soames had also assured investors that the firm is expecting a slight drop in its profitability over the next 12 months.

"These are the kind of messages that Aggreko has needed to put out to support confidence in the long-term growth prospects that have recently moved behind the clouds of a number of near-term challenges," analysts at Oriel Securities were quoted as saying by Reuters.

Earlier in the week, Tesco's share price jumped by three per cent after it won the backing of Shore Capital and Credit Suisse.

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