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Profit warning from APR kicks up uncertainty
EMERGENCY power supplier APR Energy’s shares fell by 6.6 per cent yesterday after the company warned that profit may fall at the lower end of expectations for 2014 in its third quarter results published yesterday.
Despite improved revenue of $122m (£76m) in the quarter, up from $84m this time last year, the firm said recent hesitancy among customers to make decisions could impact on growth in 2015.
Meanwhile, fellow temporary power company Aggreko also saw its shares decline yesterday, by two per cent. Garry White, analyst at Charles Stanley, commented: “Today’s statement from APR Energy has injected more uncertainty into Aggreko’s market. And the market abhors such uncertainty.”