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.

Learn about the sterling and forex trading at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.