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APR expects to post full-year net income below estimates on Libya woes

Reuters - UK Focus

March 6 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) said it expected full-year net income to be "significantly" below current market expectations, hurt by the suspension of its key Libyan operations.

APR, which rents out turbines and generators to overcome power shortages, said it would likely take a non-cash impairment charge, due to the previously announced situation in Libya.

Analysts on average expected APR's net income at $60.50 million for the year ended Dec. 31, according to Thomson Reuters I/B/E/S.

Geopolitical uncertainty, especially in emerging markets such as Libya where APR is a dominant player, had in December forced the company to cut its 2014 adjusted core earnings target. (Reporting by Aastha Agnihotri in Bengaluru; Editing by Anand Basu)