APR Energy sees 2015 net income at or below market consensus
April 21 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) said it expected its full-year 2015 net income to be at or below market expectations, hinging on how fast it is able to redeploy equipment from Libya where it terminated its contract.
The provider of temporary power systems, hurt by its exit from Libya, also reported a pretax loss of $723.6 million for the year ended Dec (Shanghai: 600875.SS - news) . 31, and did not pay out a dividend. It had posted a pretax profit of $27.5 million a year earlier.
"Challenges persist due to geopolitical instability, the oil price impact on government revenues, and the longer time horizon required for approval of these larger-scale projects," the company said. (Reporting by Esha Vaish in Bangalore; Editing by Anupama Dwivedi)