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Aggreko down, but still a sell

Shares in temporary power provider Aggreko (AGK) fell by 17 per cent after the company warned that shrinking military contracts in Afghanistan and uncertainty over the renewal of business in Japan would, when combined with the absence of one-off events such as the Olympics, cause a £100m revenue shortfall in 2013. Broker Panmure Gordon cut 2013's forecasts for adjusted pre-tax profits from £379m to £340m, giving EPS of 96.8p. This comes only two months after forecasts were initially cut from £391m.

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By John Ficenec,
17 December 2012

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