Aggreko (AGK) has delivered a mixed performance so far this year, with growth in the Europe, Middle East and Africa (EMEA) region but poor hire volumes for its Asia Pacific business dragging on its first-quarter results.
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Underlying first-quarter revenue was 4 per cent up on 2014. The Americas region grew 7 per cent, driven mainly by the power projects division after the start of group’s Panama project in the second quarter of last year. However, towards the end of the quarter the group began to see a decline in volumes and pricing in its shale oil business. Revenues in the Asia, Pacific and Australia region were down 13 per cent due to slower volumes on hire in Indonesia and continued weakness in its Australian local business.
