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Business News

Bad debts hit Aggreko profits

Shares in the generators giant Aggreko fell 7 per cent yesterday after it warned profits will be hit by unfavourable exchange rates and higher bad debts. The company, paid nearly £60m to provide temporary power at the London Olympic Games, said profits will be about 2.5 per cent less than expected due to those debts and currency fluctuations, plus a new power project in Mozambique costing more than expected. "Overall, trading continues to run broadly in line with our expectations," Aggreko added. Its shares dropped 165p to 2,137p.