APR suspends power generation in Libya, to take financial hit

* Suspends power generation pending govt paperwork on contract

* Contract had helped company post profit last year

* CEO doesn't quantify financial hit, gives no resolution time

* Shares (Berlin: DI6.BE - news) hit record low of 295.5 pence (Adds CEO comments, updates share movement)

By Esha Vaish

Nov 7 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) , which runs temporary power plants, suspended electricity generation in Libya and said its results could be hurt, a warning that wiped out more than a fifth of its market value.

APR's stock fell to a record low on Friday after the company said it suspended operations due to unfinished paperwork by the Libyan government on a contract that was instrumental in APR posting a profit last year.

"Well there obviously will be a financial impact on APR but we're taking it one day at a time at this point," founder and Chief Executive Laurence Anderson told Reuters.

He said the company would quantify the impact once the issue was resolved, but did not give a timeline for a resolution.

"One would expect that with the acute need of electricity (in Libya), this should expedite the process or raise the priority level for them."

In July, General Electric Company (NYSE: GE - news) of Libya (GECOL) extended APR's 450-megawatt power contract through to the first quarter of 2015, but the final parliamentary review process has been continuously delayed.

APR, which rents out 25 megawatts turbines and generators, said on Friday its plants were on standby until the matter was resolved. Its power plants at six sites in Libya have been shut for 48 hours already.

Friday's warning comes about a month after APR said full-year profit would be at the lower end of market expectations due to escalating geopolitical and global economic uncertainty leading to "customer hesitancy" in making decisions.

The company's optimism in emerging markets has been in stark contrast to that of larger rival Aggreko (LSE: AGK.L - news) , which has warned on multiple occasions that emerging markets remained challenging.

APR's persistence with emerging markets has left it exposed to countries such as Libya and Iraq, where political risks abound and situations such as the outbreak of Ebola could crop up.

Its operations in Libya have been a particular cause for concern, caught between two rival governments struggling for control of the country's vast energy reserves three years after veteran ruler Muammar Gaddafi was overthrown.

Before Friday's statement, analysts on average had expected APR to post a pretax profit of 94.45 million pounds and revenue of 493.77 million pounds, according to Thomson Reuters I/B/E/S.

Peel Hunt analyst Andrew Nussey said it would be tough to estimate what impact the latest disruption would have.

"It's a difficult one to call because we don't know how long this disruption might be. Each day that they're not generating power is also going to impact them financially."

APR shares were down 19 percent at 301.25 pence at 1522 GMT, making them one of the top losers on the London Stock Exchange (Other OTC: LDNXF - news) . The stock hit a record low of 295.50 pence earlier. (Editing by Savio D'Souza)